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Sangamon Sun

Tuesday, April 16, 2024

Former state university employee Tyrrell paid in $46K to pension fund, could collect $868K in retirement

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Former state university employee Jie Tyrrell, who retired in February 2017, saved $46,373 toward a pension over 22 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Tyrrell would collect as much as $868,443, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Tyrrell received $18,254 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Tyrrell will have already received $56,422 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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