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DeKalb Times

Friday, November 22, 2024

Former state university employee Hansfield paid in $84K to pension fund, could collect $1.18M in retirement

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Former state university employee Susan Hansfield, who retired in January 2018, saved $83,844 toward a pension over 21 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Hansfield would collect as much as $1.18 million, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Hansfield received $24,795 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Hansfield will have already received $103,733 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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