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West Central Reporter

Tuesday, December 24, 2024

Former state university employee Clark paid in $4K to pension fund, could collect $62K in retirement

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Former state university employee Dianna Clark, who retired in February 2018, saved $4,061 toward a pension over 9 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Clark would collect as much as $62,228, according to a projection by Local Government Information Services (LGIS), which publishes West Central Reporter.

The projection assumes Clark received $1,308 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Clark will have already received $5,471 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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