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Sangamon Sun

Friday, May 3, 2024

Former state university employee Snopko paid in $46K to pension fund, could collect $660K in retirement

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Former state university employee Catherine Snopko, who retired in October 2018, saved $45,710 toward a pension over 19 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Snopko would collect as much as $659,966, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Snopko received $13,872 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Snopko will have already received $58,036 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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