Quantcast

DeKalb Times

Monday, November 25, 2024

Former state university employee Dosanjh paid in $120K to pension fund, could collect $2.03M in retirement

Shutterstock 469426916

Former state university employee Nancy Dosanjh, who retired in January 2017, saved $119,655 toward a pension over 21 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Dosanjh would collect as much as $2.03 million, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Dosanjh received $42,680 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Dosanjh will have already received $131,919 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

MORE NEWS