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Sangamon Sun

Monday, November 25, 2024

Former state university employee Leslie paid in $96K to pension fund, could collect $961K in retirement

Money 06

Former state university employee Catherine Leslie, who retired in July 2016, saved $96,089 toward a pension over 14 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Leslie would collect as much as $960,656, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Leslie received $20,192 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 5 years of retirement, Leslie will have already received $107,204 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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