Former state university employee Hennig paid in $95K to pension fund, could collect $1.99M in retirement

By East Central Reporter Reports

Feb 1, 2016

Former state university employee Mary Hennig, who retired in January 2016, saved $95,197 toward a pension over 28 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Hennig would collect as much as $1.99 million, according to a projection by Local Government Information Services (LGIS), which publishes East Central Reporter.

The projection assumes Hennig received $41,779 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Hennig will have already received $129,134 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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