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Sangamon Sun

Sunday, November 24, 2024

Former state university employee Leefers paid in $5K to pension fund, could collect $197K in retirement

Money 02

Former state university employee Nancy Leefers, who retired in February 2018, saved $4,856 toward a pension over 3 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Leefers would collect as much as $197,190, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Leefers received $4,144 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Leefers will have already received $8,412 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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