East Central Reporter

East Central Reporter

Monday, February 17, 2020

Former state university employee Black paid in $95K to pension fund, could collect $2.07M in retirement

Schools

By East Central Reporter Reports | Apr 1, 2016

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Former state university employee Deborah Black, who retired in March 2016, saved $95,260 toward a pension over 28 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Black would collect as much as $2.07 million, according to a projection by Local Government Information Services (LGIS), which publishes East Central Reporter.

The projection assumes Black received $43,466 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Black will have already received $134,349 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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