Sangamon Sun

Sangamon Sun

Friday, April 3, 2020

Former state university employee Watson paid in $11K to pension fund, could collect $154K in retirement

Schools

By Local Labs News Service | Dec 1, 2018

Money759

Former state university employee Cheryl Watson, who retired in November 2018, saved $11,048 toward a pension over 5 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Watson would collect as much as $153,573, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Watson received $3,228 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Watson will have already received $13,506 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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Southern Illinois University at Edwardsville

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