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East Central Reporter

Thursday, April 18, 2024

Former state university employee Gentry paid in $5K to pension fund, could collect $43K in retirement

Money 04

Former state university employee Roxie Gentry, who retired in October 2018, saved $4,839 toward a pension over 6 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Gentry would collect as much as $42,817, according to a projection by Local Government Information Services (LGIS), which publishes East Central Reporter.

The projection assumes Gentry received $900 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 6 years of retirement, Gentry will have already received $5,824 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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