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Carbondale Reporter

Saturday, November 23, 2024

Former state university employee Hudgens paid in $164K to pension fund, could collect $3.85M in retirement

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Former state university employee Lisa Hudgens, who retired in June 2017, saved $163,827 toward a pension over 35 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Hudgens would collect as much as $3.85 million, according to a projection by Local Government Information Services (LGIS), which publishes Carbondale Reporter.

The projection assumes Hudgens received $80,957 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Hudgens will have already received $164,343 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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