Former state university employee Grant paid in $14K to pension fund, could collect $349K in retirement

Former state university employee Marilou Grant, who retired in April 2017, saved $14,434 toward a pension over 14 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Grant would collect as much as $348,977, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Grant received $7,335 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Grant will have already received $14,890 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.