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Carbondale Reporter

Tuesday, December 24, 2024

Former state university employee Wright paid in $210K to pension fund, could collect $4.53M in retirement

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Former state university employee Mary Wright, who retired in June 2016, saved $210,321 toward a pension over 33 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Wright would collect as much as $4.53 million, according to a projection by Local Government Information Services (LGIS), which publishes Carbondale Reporter.

The projection assumes Wright received $95,114 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Wright will have already received $293,987 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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