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Chambana Sun

Sunday, November 24, 2024

Former state university employee Fuller paid in $109K to pension fund, could collect $2.6M in retirement

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Former state university employee Harlan Fuller, who retired in June 2017, saved $108,794 toward a pension over 32 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Fuller would collect as much as $2.6 million, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Fuller received $54,710 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Fuller will have already received $111,061 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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