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DeKalb Times

Sunday, November 17, 2024

Former state university employee Wyzard paid in $60K to pension fund, could collect $949K in retirement

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Former state university employee Mary Wyzard, who retired in June 2018, saved $60,388 toward a pension over 24 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Wyzard would collect as much as $949,272, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Wyzard received $19,953 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Wyzard will have already received $61,674 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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