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Sangamon Sun

Wednesday, April 24, 2024

Former state university employee Solecki paid in $16K to pension fund, could collect $691K in retirement

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Former state university employee Mary Solecki, who retired in January 2016, saved $16,083 toward a pension over 5 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Solecki would collect as much as $691,462, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Solecki received $14,534 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Solecki will have already received $29,504 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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