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Rockford Sun

Friday, November 22, 2024

Former state university employee Perez paid in $13K to pension fund, could collect $230K in retirement

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Former state university employee Linda Perez, who retired in November 2016, saved $12,691 toward a pension over 16 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Perez would collect as much as $230,126, according to a projection by Local Government Information Services (LGIS), which publishes Rockford Sun.

The projection assumes Perez received $4,837 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Perez will have already received $14,950 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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