Former state university employee Edwards paid in $50K to pension fund, could collect $1.26M in retirement

By Local Labs News Service

Jul 1, 2017

Former state university employee Sarah Edwards, who retired in June 2017, saved $49,916 toward a pension over 35 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Edwards would collect as much as $1.26 million, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Edwards received $26,416 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Edwards will have already received $53,624 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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University of Illinois at Urbana Champaign

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