Sangamon Sun

Sangamon Sun

Friday, December 13, 2019

Former state university employee Merrill Fink paid in $144K to pension fund, could collect $3.1M in retirement

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By Local Labs News Service | Jul 1, 2018

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Former state university employee Lori Merrill Fink, who retired in June 2018, saved $143,946 toward a pension over 31 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Merrill Fink would collect as much as $3.1 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Merrill Fink received $65,248 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Merrill Fink will have already received $201,674 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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