Former state university employee Reed paid in $160K to pension fund, could collect $4.08M in retirement

By East Central Reporter Reports

Feb 1, 2016

Former state university employee Kathy Reed, who retired in January 2016, saved $160,301 toward a pension over 32 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Reed would collect as much as $4.08 million, according to a projection by Local Government Information Services (LGIS), which publishes East Central Reporter.

The projection assumes Reed received $85,750 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Reed will have already received $174,073 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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