Former state university employee Hartom paid in $18K to pension fund, could collect $892K in retirement

By East Central Reporter Reports

Sep 1, 2016

Former state university employee Elbert Hartom, who retired in August 2016, saved $17,640 toward a pension over 9 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Hartom would collect as much as $892,221, according to a projection by Local Government Information Services (LGIS), which publishes East Central Reporter.

The projection assumes Hartom received $18,753 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Hartom will have already received $18,753 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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