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Sangamon Sun

Tuesday, November 5, 2024

Former state university employee Easton paid in $12K to pension fund, could collect $214K in retirement

Money 05

Former state university employee Alena Easton, who retired in June 2017, saved $12,292 toward a pension over 6 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Easton would collect as much as $214,409, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Easton received $4,506 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Easton will have already received $13,927 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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