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West Central Reporter

Friday, April 19, 2024

Former state university employee Waller paid in $94K to pension fund, could collect $2M in retirement

Money 07

Former state university employee Lisa Waller, who retired in January 2019, saved $94,433 toward a pension over 34 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Waller would collect as much as $2 million, according to a projection by Local Government Information Services (LGIS), which publishes West Central Reporter.

The projection assumes Waller received $41,940 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Waller will have already received $129,632 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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