Sangamon Sun

Sangamon Sun

Friday, December 13, 2019

Former state university employee Erickson paid in $29K to pension fund, could collect $353K in retirement


By Local Labs News Service | Nov 1, 2018

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Former state university employee Denise Erickson, who retired in October 2018, saved $28,896 toward a pension over 14 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Erickson would collect as much as $353,390, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Erickson received $7,428 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Erickson will have already received $31,077 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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