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West Central Reporter

Tuesday, April 23, 2024

Former state university employee Fullenwilder Bracey paid in $105K to pension fund, could collect $2.03M in retirement

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Former state university employee Dianne Fullenwilder Bracey, who retired in July 2017, saved $105,318 toward a pension over 29 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Fullenwilder Bracey would collect as much as $2.03 million, according to a projection by Local Government Information Services (LGIS), which publishes West Central Reporter.

The projection assumes Fullenwilder Bracey received $42,609 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Fullenwilder Bracey will have already received $131,700 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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