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DeKalb Times

Saturday, November 16, 2024

Former state university employee Rosenbaum paid in $29K to pension fund, could collect $476K in retirement

Money 08

Former state university employee Judy Rosenbaum, who retired in July 2018, saved $29,355 toward a pension over 15 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Rosenbaum would collect as much as $475,586, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Rosenbaum received $9,996 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Rosenbaum will have already received $30,897 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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