Sangamon Sun

Sangamon Sun

Sunday, October 20, 2019

Former state university employee Salotti paid in $37K to pension fund, could collect $568K in retirement


By Local Labs News Service | Aug 1, 2016

Former state university employee Lauren Salotti, who retired in July 2016, saved $37,053 toward a pension over 8 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Salotti would collect as much as $567,890, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Salotti received $11,936 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Salotti will have already received $49,936 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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