Former state university employee Williams paid in $24K to pension fund, could collect $944K in retirement

By Local Labs News Service

Apr 1, 2019

Former state university employee Jacqueline Williams, who retired in March 2019, saved $23,842 toward a pension over 10 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Williams would collect as much as $944,276, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Williams received $19,848 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Williams will have already received $40,291 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

ORGANIZATIONS IN THIS STORY

University of Illinois at Urbana Champaign

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