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East Central Reporter

Saturday, November 23, 2024

Former state university employee Goble paid in $49K to pension fund, could collect $1.69M in retirement

Money 06

Former state university employee Jeanne Goble, who retired in April 2016, saved $48,723 toward a pension over 27 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Goble would collect as much as $1.69 million, according to a projection by Local Government Information Services (LGIS), which publishes East Central Reporter.

The projection assumes Goble received $35,612 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Goble will have already received $72,292 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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