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Sangamon Sun

Saturday, April 20, 2024

Former state university employee Robinson paid in $43K to pension fund, could collect $1.02M in retirement

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Former state university employee Ann Robinson, who retired in June 2018, saved $43,269 toward a pension over 30 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Robinson would collect as much as $1.02 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Robinson received $21,527 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Robinson will have already received $43,700 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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