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DeKalb Times

Saturday, November 16, 2024

Former state university employee Partch paid in $126K to pension fund, could collect $3.02M in retirement

Money 02

Former state university employee Nancy Partch, who retired in July 2018, saved $126,028 toward a pension over 31 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Partch would collect as much as $3.02 million, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Partch received $63,392 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Partch will have already received $128,686 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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