Former state university employee Spurling paid in $67K to pension fund, could collect $1.19M in retirement

By East Central Reporter Reports

Feb 1, 2018

Former state university employee Carolyn Spurling, who retired in January 2018, saved $66,952 toward a pension over 17 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Spurling would collect as much as $1.19 million, according to a projection by Local Government Information Services (LGIS), which publishes East Central Reporter.

The projection assumes Spurling received $24,933 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Spurling will have already received $77,065 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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