West Central Reporter

West Central Reporter

Wednesday, November 20, 2019

Former state university employee Brown paid in $72K to pension fund, could collect $1.67M in retirement

Schools

By Local Labs News Service | Feb 1, 2016

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Former state university employee Pamela Brown, who retired in January 2016, saved $71,529 toward a pension over 30 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Brown would collect as much as $1.67 million, according to a projection by Local Government Information Services (LGIS), which publishes West Central Reporter.

The projection assumes Brown received $35,036 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Brown will have already received $108,293 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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