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DeKalb Times

Sunday, November 24, 2024

Former state university employee Stone paid in $58K to pension fund, could collect $852K in retirement

Money 01

Former state university employee Ruth Stone, who retired in July 2017, saved $58,396 toward a pension over 21 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Stone would collect as much as $852,138, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Stone received $17,911 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Stone will have already received $74,931 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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