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Chambana Sun

Monday, November 25, 2024

Former state university employee Rightsel paid in $15K to pension fund, could collect $229K in retirement

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Former state university employee Pamela Rightsel, who retired in June 2016, saved $15,042 toward a pension over 9 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Rightsel would collect as much as $229,429, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Rightsel received $4,822 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Rightsel will have already received $20,174 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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