Former state university employee Johnson paid in $92K to pension fund, could collect $1.58M in retirement

By East Central Reporter Reports

Feb 1, 2018

Former state university employee Karen Johnson, who retired in January 2018, saved $91,513 toward a pension over 28 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Johnson would collect as much as $1.58 million, according to a projection by Local Government Information Services (LGIS), which publishes East Central Reporter.

The projection assumes Johnson received $33,249 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Johnson will have already received $102,768 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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