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Sangamon Sun

Friday, April 26, 2024

Former state university employee Nash paid in $18K to pension fund, could collect $553K in retirement

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Former state university employee Jackie Nash, who retired in July 2018, saved $17,790 toward a pension over 14 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Nash would collect as much as $553,098, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Nash received $11,625 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Nash will have already received $23,599 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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