Former state university employee West paid in $3K to pension fund, could collect $347K in retirement

By Local Labs News Service

Apr 1, 2018

Former state university employee Edith West, who retired in March 2018, saved $3,259 toward a pension over 5 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, West would collect as much as $346,813, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes West received $7,289 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, West will have already received $7,289 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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