Dupage Policy Journal

Dupage Policy Journal

Monday, February 24, 2020

Former state university employee Hawkinson paid in $17K to pension fund, could collect $311K in retirement


By Local Labs News Service | Oct 1, 2016

Money 02

Former state university employee Annise Hawkinson, who retired in September 2016, saved $16,804 toward a pension over 5 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Hawkinson would collect as much as $310,720, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Hawkinson received $6,531 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Hawkinson will have already received $20,187 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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