Quantcast

DeKalb Times

Sunday, November 17, 2024

Former state university employee Ohman paid in $21K to pension fund, could collect $790K in retirement

Money 03

Former state university employee Wendy Ohman, who retired in June 2018, saved $20,934 toward a pension over 11 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Ohman would collect as much as $790,452, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Ohman received $16,614 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Ohman will have already received $33,726 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

MORE NEWS