Former state university employee Reed paid in $6K to pension fund, could collect $211K in retirement

By Local Labs News Service

Jul 1, 2016

Former state university employee Cynthia Reed, who retired in June 2016, saved $5,521 toward a pension over 3 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Reed would collect as much as $211,246, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Reed received $4,440 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Reed will have already received $9,013 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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