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DeKalb Times

Thursday, November 21, 2024

Former state university employee Day paid in $78K to pension fund, could collect $1.92M in retirement

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Former state university employee Doris Day, who retired in August 2017, saved $77,578 toward a pension over 21 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Day would collect as much as $1.92 million, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Day received $40,422 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Day will have already received $82,057 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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