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Sangamon Sun

Friday, April 26, 2024

Former state university employee Hurst paid in $6K to pension fund, could collect $114K in retirement

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Former state university employee Rosie Hurst, who retired in April 2018, saved $5,989 toward a pension over 9 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Hurst would collect as much as $113,638, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Hurst received $2,388 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Hurst will have already received $7,382 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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