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DeKalb Times

Saturday, November 23, 2024

Former state university employee Morley paid in $480 to pension fund, could collect $141K in retirement

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Former state university employee Jane Morley, who retired in June 2016, saved $480 toward a pension over 1 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Morley would collect as much as $141,298, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Morley received $2,970 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Morley will have already received $2,970 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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