Dupage Policy Journal

Dupage Policy Journal

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Former state university employee Shillington paid in $36K to pension fund, could collect $720K in retirement

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By Local Labs News Service | Jan 1, 2018

Money 04

Former state university employee Janice Shillington, who retired in December 2017, saved $36,031 toward a pension over 26 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Shillington would collect as much as $719,585, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Shillington received $15,125 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Shillington will have already received $46,750 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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