Former state university employee Till paid in $53K to pension fund, could collect $1.09M in retirement

By Local Labs News Service

Jun 1, 2016

Former state university employee Marie Till, who retired in May 2016, saved $53,174 toward a pension over 22 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Till would collect as much as $1.09 million, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Till received $22,879 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Till will have already received $70,716 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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