Former state university employee Benson paid in $26K to pension fund, could collect $383K in retirement

Former state university employee Linda Benson, who retired in February 2018, saved $25,677 toward a pension over 8 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Benson would collect as much as $382,557, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Benson received $8,041 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Benson will have already received $33,639 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.