Sangamon Sun

Sangamon Sun

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Former state university employee Boots paid in $5K to pension fund, could collect $74K in retirement

Schools

By Local Labs News Service | Jul 1, 2018

Money 07

Former state university employee Amber Boots, who retired in June 2018, saved $5,270 toward a pension over 5 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Boots would collect as much as $74,114, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Boots received $1,557 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Boots will have already received $6,515 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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