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West Central Reporter

Friday, April 26, 2024

Former state university employee Pendergast paid in $107K to pension fund, could collect $2.17M in retirement

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Former state university employee Susanna Pendergast, who retired in September 2017, saved $107,256 toward a pension over 31 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Pendergast would collect as much as $2.17 million, according to a projection by Local Government Information Services (LGIS), which publishes West Central Reporter.

The projection assumes Pendergast received $45,683 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Pendergast will have already received $141,201 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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