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Sangamon Sun

Thursday, November 14, 2024

Former state university employee Cissell paid in $2K to pension fund, could collect $33K in retirement

Money 06

Former state university employee Bonnie Cissell, who retired in April 2018, saved $2,337 toward a pension over 5 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Cissell would collect as much as $33,175, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Cissell received $697 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Cissell will have already received $2,917 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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