Former state university employee Lemons paid in $14K to pension fund, could collect $207K in retirement

By Local Labs News Service

Feb 1, 2018

Former state university employee David Lemons, who retired in January 2018, saved $13,725 toward a pension over 11 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Lemons would collect as much as $207,021, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Lemons received $4,351 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Lemons will have already received $18,203 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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