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Carbondale Reporter

Saturday, November 23, 2024

Former state university employee Hull paid in $113K to pension fund, could collect $2.93M in retirement

Money 06

Former state university employee Sharon Hull, who retired in June 2017, saved $113,264 toward a pension over 15 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Hull would collect as much as $2.93 million, according to a projection by Local Government Information Services (LGIS), which publishes Carbondale Reporter.

The projection assumes Hull received $61,559 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Hull will have already received $124,965 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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