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Macon Reporter

Friday, November 22, 2024

Former state university employee Poland paid in $3K to pension fund, could collect $72K in retirement

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Former state university employee Christine Poland, who retired in September 2017, saved $2,975 toward a pension over 5 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Poland would collect as much as $71,911, according to a projection by Local Government Information Services (LGIS), which publishes Macon Reporter.

The projection assumes Poland received $1,511 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Poland will have already received $3,067 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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