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Sangamon Sun

Sunday, November 24, 2024

Former state university employee Gummert paid in $2K to pension fund, could collect $44K in retirement

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Former state university employee Debbie Gummert, who retired in November 2017, saved $1,872 toward a pension over 8 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Gummert would collect as much as $43,959, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Gummert received $924 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Gummert will have already received $1,876 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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