Former state university employee Ross paid in $48K to pension fund, could collect $754K in retirement

By Local Labs News Service

Feb 1, 2019

Former state university employee James Ross, who retired in January 2019, saved $48,076 toward a pension over 21 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Ross would collect as much as $754,165, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Ross received $15,852 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Ross will have already received $48,998 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

ORGANIZATIONS IN THIS STORY

University of Illinois at Urbana Champaign

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