Sangamon Sun

Sangamon Sun

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Former state university employee Fisher paid in $28K to pension fund, could collect $295K in retirement

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By Local Labs News Service | Nov 1, 2016

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Former state university employee Carol Fisher, who retired in October 2016, saved $28,388 toward a pension over 7 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Fisher would collect as much as $294,946, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Fisher received $6,199 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 5 years of retirement, Fisher will have already received $32,912 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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