Former state university employee Grissinger paid in $370 to pension fund, could collect $105K in retirement

Former state university employee Louise Grissinger, who retired in January 2017, saved $370 toward a pension over 1 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Grissinger would collect as much as $104,949, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Grissinger received $2,205 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Grissinger will have already received $2,205 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.