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Carbondale Reporter

Thursday, April 25, 2024

Former state university employee Hooper paid in $91K to pension fund, could collect $2.18M in retirement

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Former state university employee Rhonda Hooper, who retired in April 2018, saved $90,741 toward a pension over 33 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Hooper would collect as much as $2.18 million, according to a projection by Local Government Information Services (LGIS), which publishes Carbondale Reporter.

The projection assumes Hooper received $45,836 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Hooper will have already received $93,047 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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