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Carbondale Reporter

Saturday, November 23, 2024

Former state university employee Wilson paid in $70K to pension fund, could collect $996K in retirement

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Former state university employee Marianne Wilson, who retired in October 2018, saved $70,122 toward a pension over 21 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Wilson would collect as much as $995,863, according to a projection by Local Government Information Services (LGIS), which publishes Carbondale Reporter.

The projection assumes Wilson received $20,932 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Wilson will have already received $87,572 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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