Quantcast

DeKalb Times

Friday, November 22, 2024

Former state university employee Reh paid in $8K to pension fund, could collect $124K in retirement

Money 02

Former state university employee Sandra Reh, who retired in September 2016, saved $7,890 toward a pension over 6 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Reh would collect as much as $124,188, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Reh received $2,610 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Reh will have already received $8,067 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

MORE NEWS