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Sangamon Sun

Monday, September 30, 2024

Former state university employee Rogers paid in $180K to pension fund, could collect $3.91M in retirement

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Former state university employee Elmer Rogers, who retired in June 2017, saved $180,072 toward a pension over 33 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Rogers 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 Rogers received $82,127 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Rogers will have already received $253,847 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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