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DeKalb Times

Sunday, November 24, 2024

Former state university employee Reid paid in $107K to pension fund, could collect $2.27M in retirement

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Former state university employee Donna Reid, who retired in July 2017, saved $106,990 toward a pension over 30 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Reid would collect as much as $2.27 million, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Reid received $47,755 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Reid will have already received $147,607 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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