Former state university employee Cagle paid in $101K to pension fund, could collect $2.38M in retirement

Former state university employee Janice Cagle, who retired in September 2017, saved $101,037 toward a pension over 31 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Cagle would collect as much as $2.38 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Cagle received $49,952 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Cagle will have already received $101,403 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.