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Chambana Sun

Saturday, November 23, 2024

Former state university employee Danielson paid in $28K to pension fund, could collect $468K in retirement

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Former state university employee Sherry Danielson, who retired in May 2016, saved $28,187 toward a pension over 9 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Danielson would collect as much as $468,364, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Danielson received $9,844 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Danielson will have already received $30,426 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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