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Chambana Sun

Saturday, November 23, 2024

Former state university employee Daniell paid in $31K to pension fund, could collect $1.66M in retirement

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Former state university employee Amy Daniell, who retired in November 2017, saved $30,816 toward a pension over 12 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Daniell would collect as much as $1.66 million, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Daniell received $34,923 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Daniell will have already received $34,923 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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