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South Central Reporter

Saturday, November 23, 2024

Former state university employee Stansfield paid in $45K to pension fund, could collect $828K in retirement

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Former state university employee Patricia Stansfield, who retired in November 2016, saved $45,146 toward a pension over 19 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Stansfield would collect as much as $827,715, according to a projection by Local Government Information Services (LGIS), which publishes South Central Reporter.

The projection assumes Stansfield received $17,397 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Stansfield will have already received $53,773 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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