Sangamon Sun

Sangamon Sun

Friday, December 6, 2019

Former state university employee Williams paid in $7K to pension fund, could collect $90K in retirement


By Local Labs News Service | Dec 1, 2016

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Former state university employee Patricia Williams, who retired in November 2016, saved $6,685 toward a pension over 11 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Williams would collect as much as $90,425, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Williams received $1,900 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Williams will have already received $7,949 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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