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Dupage Policy Journal

Thursday, April 18, 2024

Former state university employee Vena paid in $76K to pension fund, could collect $2.3M in retirement

Money 08

Former state university employee Susan Vena, who retired in June 2018, saved $75,895 toward a pension over 27 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Vena would collect as much as $2.3 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Vena received $48,427 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Vena will have already received $98,307 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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