DeKalb Times

DeKalb Times

Wednesday, April 8, 2020

Former state university employee Moore paid in $51K to pension fund, could collect $927K in retirement

Schools

By Local Labs News Service | Apr 1, 2017

Money 02

Former state university employee Martha Moore, who retired in March 2017, saved $51,389 toward a pension over 24 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Moore would collect as much as $927,081, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Moore received $19,486 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Moore will have already received $60,230 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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