Sangamon Sun

Sangamon Sun

Monday, February 17, 2020

Former state university employee Sack paid in $200K to pension fund, could collect $4.01M in retirement


By Local Labs News Service | Oct 1, 2018

Money 06

Former state university employee David Sack, who retired in September 2018, saved $200,439 toward a pension over 32 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Sack would collect as much as $4.01 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Sack received $84,187 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Sack will have already received $260,214 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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