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Carbondale Reporter

Monday, November 25, 2024

Former state university employee Henson paid in $81K to pension fund, could collect $1.48M in retirement

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Former state university employee Mark Henson, who retired in July 2016, saved $81,396 toward a pension over 16 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Henson would collect as much as $1.48 million, according to a projection by Local Government Information Services (LGIS), which publishes Carbondale Reporter.

The projection assumes Henson received $31,142 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Henson will have already received $96,256 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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