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South Central Reporter

Sunday, November 24, 2024

Former state university employee Roberts paid in $3K to pension fund, could collect $31K in retirement

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Former state university employee Dennis Roberts, who retired in January 2016, saved $2,556 toward a pension over 5 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Roberts would collect as much as $31,399, according to a projection by Local Government Information Services (LGIS), which publishes South Central Reporter.

The projection assumes Roberts received $660 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Roberts will have already received $2,761 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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