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Sangamon Sun

Thursday, May 2, 2024

Former state university employee Sage paid in $49K to pension fund, could collect $1.43M in retirement

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Former state university employee Judith Sage, who retired in April 2016, saved $49,148 toward a pension over 10 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Sage would collect as much as $1.43 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Sage received $30,063 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Sage will have already received $61,028 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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