Sangamon Sun

Sangamon Sun

Sunday, October 20, 2019

Former state university employee Meier paid in $79K to pension fund, could collect $1.48M in retirement


By Local Labs News Service | Jul 1, 2016

Former state university employee Pamela Meier, who retired in June 2016, saved $78,626 toward a pension over 25 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Meier would collect as much as $1.48 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Meier received $31,211 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Meier will have already received $96,469 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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