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Chambana Sun

Monday, November 25, 2024

Former state university employee Acton paid in $2K to pension fund, could collect $103K in retirement

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Former state university employee Julie Acton, who retired in June 2016, saved $2,203 toward a pension over 4 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Acton would collect as much as $103,071, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Acton received $2,166 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Acton will have already received $4,397 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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