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Carbondale Reporter

Sunday, November 24, 2024

Former state university employee Lewis paid in $78K to pension fund, could collect $1.26M in retirement

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Former state university employee Sandra Lewis, who retired in May 2016, saved $77,984 toward a pension over 13 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Lewis would collect as much as $1.26 million, according to a projection by Local Government Information Services (LGIS), which publishes Carbondale Reporter.

The projection assumes Lewis received $26,396 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Lewis will have already received $81,588 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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