Sangamon Sun

Sangamon Sun

Saturday, December 14, 2019

Former state university employee Clarkson paid in $34K to pension fund, could collect $470K in retirement


By Local Labs News Service | Oct 1, 2018

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Former state university employee Kristine Clarkson, who retired in September 2018, saved $34,247 toward a pension over 12 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Clarkson would collect as much as $470,088, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Clarkson received $9,880 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Clarkson will have already received $41,332 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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