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DeKalb Times

Sunday, November 24, 2024

Former state university employee Mondragon paid in $166 to pension fund, could collect $92K in retirement

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Former state university employee Laurie Mondragon, who retired in July 2017, saved $166 toward a pension over 1 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Mondragon would collect as much as $92,475, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Mondragon received $1,943 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Mondragon will have already received $1,943 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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