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Carbondale Reporter

Sunday, November 24, 2024

Former state university employee Vicher paid in $38K to pension fund, could collect $940K in retirement

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Former state university employee Virginia Vicher, who retired in September 2017, saved $38,438 toward a pension over 16 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Vicher would collect as much as $940,388, according to a projection by Local Government Information Services (LGIS), which publishes Carbondale Reporter.

The projection assumes Vicher received $19,766 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Vicher will have already received $40,125 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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