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Chambana Sun

Tuesday, May 7, 2024

Former state university employee Evans paid in $61K to pension fund, could collect $1.83M in retirement

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Former state university employee Lila Evans, who retired in January 2016, saved $61,348 toward a pension over 24 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Evans would collect as much as $1.83 million, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Evans received $38,368 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Evans will have already received $77,887 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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