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East Central Reporter

Friday, April 26, 2024

Former state university employee Moss paid in $14K to pension fund, could collect $707K in retirement

Money 04

Former state university employee Bruce Moss, who retired in April 2016, saved $14,427 toward a pension over 4 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Moss would collect as much as $707,299, according to a projection by Local Government Information Services (LGIS), which publishes East Central Reporter.

The projection assumes Moss received $14,866 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Moss will have already received $14,866 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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