Former state university employee Henderson paid in $135K to pension fund, could collect $2.04M in retirement

By East Central Reporter Reports

Aug 1, 2018

Former state university employee John Henderson, who retired in July 2018, saved $134,845 toward a pension over 20 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Henderson would collect as much as $2.04 million, according to a projection by Local Government Information Services (LGIS), which publishes East Central Reporter.

The projection assumes Henderson received $42,862 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Henderson will have already received $179,318 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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