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Sangamon Sun

Friday, November 22, 2024

Former state university employee Robertson paid in $81K to pension fund, could collect $1.56M in retirement

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Former state university employee William Robertson, who retired in June 2018, saved $80,899 toward a pension over 15 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Robertson would collect as much as $1.56 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Robertson received $32,876 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Robertson will have already received $101,616 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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