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Chambana Sun

Friday, April 19, 2024

Former state university employee Shur paid in $4K to pension fund, could collect $210K in retirement

Money 03

Former state university employee Lyuba Shur, who retired in March 2017, saved $4,031 toward a pension over 5 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Shur would collect as much as $210,201, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Shur received $4,418 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Shur will have already received $4,418 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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