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Sangamon Sun

Saturday, November 23, 2024

Former state university employee Abell paid in $235 to pension fund, could collect $42K in retirement

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Former state university employee Kimberly Abell, who retired in June 2016, saved $235 toward a pension over 1 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Abell would collect as much as $41,590, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Abell received $874 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Abell will have already received $874 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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