DeKalb Times

DeKalb Times

Tuesday, February 25, 2020

Former state university employee Espe paid in $41K to pension fund, could collect $673K in retirement


By Local Labs News Service | Nov 1, 2018

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Former state university employee Elizabeth Espe, who retired in October 2018, saved $41,450 toward a pension over 15 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Espe would collect as much as $672,577, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Espe received $14,137 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Espe will have already received $43,696 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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