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West Central Reporter

Thursday, April 18, 2024

Former state university employee Bray paid in $57K to pension fund, could collect $992K in retirement

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Former state university employee Dana Bray, who retired in January 2016, saved $57,307 toward a pension over 22 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Bray would collect as much as $992,130, according to a projection by Local Government Information Services (LGIS), which publishes West Central Reporter.

The projection assumes Bray received $20,853 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Bray will have already received $64,455 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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