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Rockford Sun

Saturday, November 23, 2024

Former state university employee Linden paid in $66K to pension fund, could collect $966K in retirement

Money272

Former state university employee Patti Linden, who retired in February 2017, saved $66,109 toward a pension over 15 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Linden would collect as much as $966,462, according to a projection by Local Government Information Services (LGIS), which publishes Rockford Sun.

The projection assumes Linden received $20,314 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Linden will have already received $84,986 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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