Former state university employee Johnson paid in $249K to pension fund, could collect $8.68M in retirement

By Local Labs News Service

Jul 1, 2018

Former state university employee James Johnson, who retired in June 2018, saved $249,143 toward a pension over 25 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Johnson would collect as much as $8.68 million, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Johnson received $182,368 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Johnson will have already received $370,207 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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Northern Illinois University

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