Sangamon Sun

Sangamon Sun

Friday, December 6, 2019

Former state university employee Terry paid in $3K to pension fund, could collect $46K in retirement

Schools

By Local Labs News Service | Apr 1, 2018

Money 03

Former state university employee Anganetta Terry, who retired in March 2018, saved $3,091 toward a pension over 14 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Terry would collect as much as $46,243, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Terry received $972 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Terry will have already received $4,066 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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