Sangamon Sun

Sangamon Sun

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Former state university employee Calcaterra paid in $62K to pension fund, could collect $1.47M in retirement

Schools

By Local Labs News Service | Aug 1, 2016


Former state university employee Angela Calcaterra, who retired in July 2016, saved $61,764 toward a pension over 26 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Calcaterra would collect as much as $1.47 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Calcaterra received $30,851 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Calcaterra will have already received $62,628 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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