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East Central Reporter

Thursday, November 14, 2024

Former state university employee Sehweil Elmuti paid in $90K to pension fund, could collect $1.39M in retirement

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Former state university employee Nida Sehweil Elmuti, who retired in March 2019, saved $90,122 toward a pension over 26 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Sehweil Elmuti would collect as much as $1.39 million, according to a projection by Local Government Information Services (LGIS), which publishes East Central Reporter.

The projection assumes Sehweil Elmuti received $29,244 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Sehweil Elmuti will have already received $90,390 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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