Dupage Policy Journal

Dupage Policy Journal

Wednesday, November 13, 2019

Former state university employee Igoe paid in $32K to pension fund, could collect $668K in retirement

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By Local Labs News Service | May 1, 2016

Money041

Former state university employee Janis Igoe, who retired in April 2016, saved $31,519 toward a pension over 24 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Igoe would collect as much as $668,255, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Igoe received $14,046 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Igoe will have already received $43,414 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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