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Sangamon Sun

Monday, November 25, 2024

Former state university employee Omori paid in $188K to pension fund, could collect $3.91M in retirement

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Former state university employee Lydia Omori, who retired in July 2017, saved $188,134 toward a pension over 31 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Omori would collect as much as $3.91 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Omori received $82,081 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Omori will have already received $253,703 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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