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DeKalb Times

Saturday, November 23, 2024

Former state university employee Gliesman paid in $18K to pension fund, could collect $300K in retirement

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Former state university employee Joanne Gliesman, who retired in June 2016, saved $18,424 toward a pension over 10 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Gliesman would collect as much as $300,227, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Gliesman received $6,310 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Gliesman will have already received $19,503 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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