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Carbondale Reporter

Saturday, November 23, 2024

Former state university employee Burrell paid in $39K to pension fund, could collect $710K in retirement

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Former state university employee Charlene Burrell, who retired in June 2017, saved $39,203 toward a pension over 21 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Burrell would collect as much as $709,566, according to a projection by Local Government Information Services (LGIS), which publishes Carbondale Reporter.

The projection assumes Burrell received $14,914 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Burrell will have already received $46,097 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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