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Sangamon Sun

Monday, November 25, 2024

Former state university employee Wojnarowski paid in $31K to pension fund, could collect $486K in retirement

Money 07

Former state university employee Nadine Wojnarowski, who retired in January 2018, saved $31,201 toward a pension over 13 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Wojnarowski would collect as much as $485,914, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Wojnarowski received $10,213 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Wojnarowski will have already received $31,567 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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