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Sangamon Sun

Wednesday, April 24, 2024

Former state university employee Cass paid in $82K to pension fund, could collect $1.17M in retirement

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Former state university employee Barbara Cass, who retired in March 2019, saved $81,615 toward a pension over 20 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Cass would collect as much as $1.17 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Cass received $24,624 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Cass will have already received $103,019 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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