Sangamon Sun

Sangamon Sun

Thursday, December 5, 2019

Former state university employee Sorrill paid in $40K to pension fund, could collect $783K in retirement


By Local Labs News Service | Feb 1, 2017

Money 04

Former state university employee Kathy Sorrill, who retired in January 2017, saved $40,426 toward a pension over 24 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Sorrill would collect as much as $782,607, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Sorrill received $16,449 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Sorrill will have already received $50,841 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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