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Sangamon Sun

Thursday, November 14, 2024

Former state university employee Pritchett paid in $9K to pension fund, could collect $138K in retirement

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Former state university employee Regina Pritchett, who retired in December 2018, saved $9,033 toward a pension over 9 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Pritchett would collect as much as $138,159, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Pritchett received $2,904 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Pritchett will have already received $12,149 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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