Former state university employee Pettus paid in $14K to pension fund, could collect $403K in retirement

By Local Labs News Service

Aug 1, 2018

Former state university employee Rodney Pettus, who retired in July 2018, saved $13,557 toward a pension over 15 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Pettus would collect as much as $403,475, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Pettus received $8,480 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Pettus will have already received $17,214 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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University of Illinois System Office

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