Sangamon Sun

Sangamon Sun

Monday, December 9, 2019

Former state university employee Donnan paid in $2K to pension fund, could collect $93K in retirement


By Local Labs News Service | Feb 1, 2017

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Former state university employee William Donnan, who retired in January 2017, saved $1,901 toward a pension over 3 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Donnan would collect as much as $92,760, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Donnan received $1,949 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Donnan will have already received $1,949 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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