Sangamon Sun

Sangamon Sun

Saturday, December 7, 2019

Former state university employee Gurley paid in $24K to pension fund, could collect $350K in retirement


By Local Labs News Service | Jan 1, 2018

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Former state university employee Gina Gurley, who retired in December 2017, saved $23,888 toward a pension over 11 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Gurley would collect as much as $349,599, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Gurley received $7,348 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Gurley will have already received $30,740 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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