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DeKalb Times

Sunday, November 24, 2024

Former state university employee Livingston paid in $65K to pension fund, could collect $1.36M in retirement

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Former state university employee Phyllis Livingston, who retired in January 2019, saved $64,539 toward a pension over 25 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Livingston would collect as much as $1.36 million, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Livingston received $28,680 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Livingston will have already received $88,646 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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