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Sangamon Sun

Saturday, November 23, 2024

Former state university employee Voltz paid in $7K to pension fund, could collect $385K in retirement

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Former state university employee Linda Voltz, who retired in June 2016, saved $6,849 toward a pension over 4 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Voltz would collect as much as $385,223, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Voltz received $8,097 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Voltz will have already received $8,097 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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