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East Central Reporter

Saturday, April 20, 2024

Former state university employee Denney paid in $560 to pension fund, could collect $9K in retirement

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Former state university employee Julie Denney, who retired in December 2017, saved $560 toward a pension over 1 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Denney would collect as much as $9,248, according to a projection by Local Government Information Services (LGIS), which publishes East Central Reporter.

The projection assumes Denney received $194 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Denney will have already received $600 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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