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DeKalb Times

Tuesday, November 5, 2024

Former state university employee Roy paid in $147K to pension fund, could collect $2.24M in retirement

Money 07

Former state university employee Chandrima Roy, who retired in September 2017, saved $146,726 toward a pension over 28 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Roy would collect as much as $2.24 million, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Roy received $47,147 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Roy will have already received $197,245 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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