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Sangamon Sun

Monday, November 25, 2024

Former state university employee Riseman paid in $41K to pension fund, could collect $711K in retirement

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Former state university employee Mary Linda Riseman, who retired in November 2017, saved $41,378 toward a pension over 10 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Riseman would collect as much as $710,565, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Riseman received $14,935 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Riseman will have already received $46,162 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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