Former state university employee Love paid in $52K to pension fund, could collect $970K in retirement

By East Central Reporter Reports

Oct 1, 2016

Former state university employee Denise Love, who retired in September 2016, saved $52,014 toward a pension over 20 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Love would collect as much as $970,024, according to a projection by Local Government Information Services (LGIS), which publishes East Central Reporter.

The projection assumes Love received $20,389 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Love will have already received $63,021 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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