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Sangamon Sun

Friday, April 26, 2024

Former state university employee Reynolds paid in $14K to pension fund, could collect $206K in retirement

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Former state university employee Cynthia Reynolds, who retired in January 2017, saved $13,733 toward a pension over 9 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Reynolds would collect as much as $205,759, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Reynolds received $4,324 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Reynolds will have already received $18,092 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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