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Chambana Sun

Friday, April 19, 2024

Former state university employee Etter paid in $37K to pension fund, could collect $621K in retirement

Money759

Former state university employee Susan Etter, who retired in March 2017, saved $37,187 toward a pension over 14 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Etter would collect as much as $620,967, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Etter received $13,052 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Etter will have already received $40,343 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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