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DeKalb Times

Monday, December 23, 2024

Former state university employee Hunt paid in $7K to pension fund, could collect $142K in retirement

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Former state university employee Barbara Hunt, who retired in October 2017, saved $7,200 toward a pension over 14 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Hunt would collect as much as $141,949, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Hunt received $2,983 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Hunt will have already received $9,219 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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