Sangamon Sun

Sangamon Sun

Friday, December 6, 2019

Former state university employee Casner paid in $38K to pension fund, could collect $768K in retirement

Schools

By Local Labs News Service | Jun 1, 2018

Money 01

Former state university employee Judith Casner, who retired in May 2018, saved $37,891 toward a pension over 16 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Casner would collect as much as $768,129, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Casner received $16,145 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Casner will have already received $49,902 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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