DeKalb Times

DeKalb Times

Tuesday, October 15, 2019

Former state university employee Hunter paid in $72K to pension fund, could collect $1.38M in retirement

Schools

By Local Labs News Service | Nov 1, 2018


Former state university employee Amy Hunter, who retired in October 2018, saved $71,974 toward a pension over 29 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Hunter would collect as much as $1.38 million, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Hunter received $29,049 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Hunter will have already received $89,787 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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