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Carbondale Reporter

Saturday, November 23, 2024

Former state university employee Robinson paid in $53K to pension fund, could collect $1.06M in retirement

Money272

Former state university employee Gail Robinson, who retired in June 2017, saved $53,173 toward a pension over 22 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Robinson would collect as much as $1.06 million, according to a projection by Local Government Information Services (LGIS), which publishes Carbondale Reporter.

The projection assumes Robinson received $22,315 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Robinson will have already received $68,973 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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