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Carbondale Reporter

Monday, November 25, 2024

Former state university employee Turl paid in $29K to pension fund, could collect $409K in retirement

Money759

Former state university employee Vicky Turl, who retired in July 2016, saved $28,588 toward a pension over 7 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Turl would collect as much as $408,739, according to a projection by Local Government Information Services (LGIS), which publishes Carbondale Reporter.

The projection assumes Turl received $8,591 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Turl will have already received $35,941 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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