Quantcast

DeKalb Times

Saturday, April 19, 2025

Former state university employee Lunn paid in $61K to pension fund, could collect $1.15M in retirement

Money759

Former state university employee Bonnie Lunn, who retired in July 2016, saved $61,111 toward a pension over 18 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Lunn would collect as much as $1.15 million, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Lunn received $24,217 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Lunn will have already received $74,853 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

MORE NEWS