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Sangamon Sun

Friday, November 22, 2024

Former state university employee Hooper Campos paid in $419 to pension fund, could collect $28K in retirement

Money041

Former state university employee Theresa Hooper Campos, who retired in April 2018, saved $419 toward a pension over 1 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Hooper Campos would collect as much as $27,683, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Hooper Campos received $581 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Hooper Campos will have already received $581 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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