Quantcast

Chambana Sun

Tuesday, April 29, 2025

Former state university employee Lee paid in $7K to pension fund, could collect $248K in retirement

Shutterstock 373239541

Former state university employee Donna Lee, who retired in May 2017, saved $6,559 toward a pension over 5 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Lee would collect as much as $248,218, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Lee received $5,217 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Lee will have already received $10,591 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

MORE NEWS