Former state university employee Browning paid in $3K to pension fund, could collect $39K in retirement

By East Central Reporter Reports

Oct 1, 2016

Former state university employee Shirley Browning, who retired in September 2016, saved $2,899 toward a pension over 6 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Browning would collect as much as $39,398, according to a projection by Local Government Information Services (LGIS), which publishes East Central Reporter.

The projection assumes Browning received $828 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Browning will have already received $3,465 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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