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DeKalb Times

Monday, December 23, 2024

Former state university employee Harrison paid in $104K to pension fund, could collect $1.7M in retirement

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Former state university employee Nancy Harrison, who retired in October 2017, saved $103,927 toward a pension over 17 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Harrison would collect as much as $1.7 million, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Harrison received $35,793 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Harrison will have already received $110,633 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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