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Carbondale Reporter

Sunday, November 24, 2024

Former state university employee Brown paid in $29K to pension fund, could collect $377K in retirement

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Former state university employee Leslie Brown, who retired in September 2017, saved $29,106 toward a pension over 10 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Brown would collect as much as $376,665, according to a projection by Local Government Information Services (LGIS), which publishes Carbondale Reporter.

The projection assumes Brown received $7,917 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Brown will have already received $33,124 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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