Former state university employee Weber paid in $5K to pension fund, could collect $328K in retirement

By East Central Reporter Reports

Jul 1, 2016

Former state university employee Russe Weber, who retired in June 2016, saved $4,884 toward a pension over 3 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Weber would collect as much as $327,648, according to a projection by Local Government Information Services (LGIS), which publishes East Central Reporter.

The projection assumes Weber received $6,886 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Weber will have already received $6,886 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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Eastern Illinois University

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