Dupage Policy Journal

Dupage Policy Journal

Monday, November 18, 2019

Former state university employee Anderson paid in $337 to pension fund, could collect $198K in retirement

Schools

By Local Labs News Service | Sep 1, 2018

Money272

Former state university employee Daniel Anderson, who retired in August 2018, saved $337 toward a pension over 1 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Anderson would collect as much as $197,584, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Anderson received $4,153 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Anderson will have already received $4,153 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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