Former state university employee Hunsicker paid in $62K to pension fund, could collect $1.12M in retirement

Former state university employee Janet Hunsicker, who retired in May 2017, saved $62,354 toward a pension over 18 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Hunsicker would collect as much as $1.12 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Hunsicker received $23,645 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Hunsicker will have already received $73,084 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.