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DeKalb Times

Monday, November 25, 2024

Former state university employee Campbell paid in $49K to pension fund, could collect $822K in retirement

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Former state university employee Sharon Campbell, who retired in January 2017, saved $48,909 toward a pension over 11 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Campbell would collect as much as $822,023, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Campbell received $17,278 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Campbell will have already received $53,404 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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