Former state university employee Hart paid in $58K to pension fund, could collect $1.02M in retirement

By East Central Reporter Reports

Jul 1, 2018

Former state university employee Karen Hart, who retired in June 2018, saved $58,011 toward a pension over 19 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Hart would collect as much as $1.02 million, according to a projection by Local Government Information Services (LGIS), which publishes East Central Reporter.

The projection assumes Hart received $21,428 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Hart will have already received $66,232 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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