Former state university employee Hayes paid in $29K to pension fund, could collect $456K in retirement

By Local Labs News Service

Feb 1, 2019

Former state university employee Roger Hayes, who retired in January 2019, saved $29,280 toward a pension over 11 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Hayes would collect as much as $455,582, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Hayes received $9,576 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Hayes will have already received $29,598 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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Northern Illinois University

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