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Sangamon Sun

Thursday, April 25, 2024

Former state university employee Flagg paid in $39K to pension fund, could collect $1.65M in retirement

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Former state university employee Toni Flagg, who retired in April 2017, saved $38,810 toward a pension over 20 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Flagg would collect as much as $1.65 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Flagg received $34,615 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Flagg will have already received $70,268 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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