Dupage Policy Journal

Dupage Policy Journal

Tuesday, December 10, 2019

Former state university employee Drury paid in $6K to pension fund, could collect $100K in retirement

Schools

By Local Labs News Service | Nov 1, 2016

Money 06

Former state university employee Fred Drury, who retired in October 2016, saved $5,762 toward a pension over 6 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Drury would collect as much as $99,708, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Drury received $2,095 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Drury will have already received $6,476 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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