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Sangamon Sun

Saturday, November 23, 2024

Former state university employee Crawford paid in $2K to pension fund, could collect $62K in retirement

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Former state university employee Rosalyn Crawford, who retired in April 2016, saved $2,132 toward a pension over 5 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Crawford would collect as much as $61,560, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Crawford received $1,293 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Crawford will have already received $2,625 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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