Sangamon Sun

Sangamon Sun

Thursday, December 5, 2019

Former state university employee Mitkos paid in $132K to pension fund, could collect $2.68M in retirement

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By Local Labs News Service | Feb 1, 2016

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Former state university employee Yvonne Mitkos, who retired in January 2016, saved $131,672 toward a pension over 24 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Mitkos would collect as much as $2.68 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Mitkos received $56,341 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Mitkos will have already received $174,144 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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