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DeKalb Times

Saturday, November 16, 2024

Former state university employee Sander paid in $43K to pension fund, could collect $687K in retirement

Money272

Former state university employee Debra Sander, who retired in July 2018, saved $43,322 toward a pension over 21 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Sander would collect as much as $687,072, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Sander received $14,441 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Sander will have already received $44,635 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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