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Chambana Sun

Thursday, April 18, 2024

Former state university employee Greene paid in $98K to pension fund, could collect $2.45M in retirement

Money 02

Former state university employee Donna Greene, who retired in December 2018, saved $97,934 toward a pension over 30 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Greene would collect as much as $2.45 million, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Greene received $51,504 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Greene will have already received $104,553 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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