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Carbondale Reporter

Wednesday, November 27, 2024

Former state university employee Deutsch paid in $28K to pension fund, could collect $485K in retirement

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Former state university employee Joyce Deutsch, who retired in August 2018, saved $28,369 toward a pension over 14 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Deutsch would collect as much as $485,400, according to a projection by Local Government Information Services (LGIS), which publishes Carbondale Reporter.

The projection assumes Deutsch received $10,202 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Deutsch will have already received $31,533 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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