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Carbondale Reporter

Wednesday, April 17, 2024

Former state university employee Bell paid in $101K to pension fund, could collect $2.32M in retirement

Money 05

Former state university employee Laura Bell, who retired in July 2018, saved $101,328 toward a pension over 19 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Bell would collect as much as $2.32 million, according to a projection by Local Government Information Services (LGIS), which publishes Carbondale Reporter.

The projection assumes Bell received $48,768 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Bell will have already received $150,737 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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