Former state university employee Joyce paid in $51K to pension fund, could collect $1.26M in retirement

By Local Labs News Service

Feb 1, 2016

Former state university employee Brenda Joyce, who retired in January 2016, saved $51,343 toward a pension over 27 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Joyce would collect as much as $1.26 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Joyce received $26,521 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Joyce will have already received $53,838 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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Southern Illinois University Carbondale

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