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DeKalb Times

Sunday, November 24, 2024

Former state university employee Pottinger paid in $54K to pension fund, could collect $946K in retirement

Money272

Former state university employee Terry Pottinger, who retired in February 2018, saved $54,101 toward a pension over 20 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Pottinger would collect as much as $946,223, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Pottinger received $19,888 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Pottinger will have already received $61,473 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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