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Sangamon Sun

Friday, November 8, 2024

Former state university employee Browning paid in $133K to pension fund, could collect $2.04M in retirement

Money 03

Former state university employee Roger Browning, who retired in May 2018, saved $133,480 toward a pension over 18 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Browning would collect as much as $2.04 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Browning received $42,893 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Browning will have already received $179,448 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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