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Macon Reporter

Sunday, November 24, 2024

Former state university employee Fleming paid in $24K to pension fund, could collect $403K in retirement

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Former state university employee Diane Fleming, who retired in June 2017, saved $24,122 toward a pension over 15 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Fleming would collect as much as $403,355, according to a projection by Local Government Information Services (LGIS), which publishes Macon Reporter.

The projection assumes Fleming received $8,478 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Fleming will have already received $26,204 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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