Sangamon Sun

Sangamon Sun

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Former state university employee Hale paid in $23K to pension fund, could collect $287K in retirement

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By Local Labs News Service | Jun 1, 2016

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Former state university employee Bonnie Hale, who retired in May 2016, saved $22,556 toward a pension over 10 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Hale would collect as much as $286,782, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Hale received $6,027 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Hale will have already received $25,215 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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