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Chambana Sun

Friday, April 19, 2024

Former state university employee Sligar paid in $519K to pension fund, could collect $13.84M in retirement

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Former state university employee Stephen Sligar, who retired in June 2018, saved $518,886 toward a pension over 34 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Sligar would collect as much as $13.84 million, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Sligar received $290,983 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Sligar will have already received $590,695 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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