West Central Reporter

West Central Reporter

Wednesday, November 20, 2019

Former state university employee Brenner paid in $76K to pension fund, could collect $1.43M in retirement

Schools

By Local Labs News Service | Feb 1, 2016

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Former state university employee Joan Brenner, who retired in January 2016, saved $75,998 toward a pension over 28 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Brenner would collect as much as $1.43 million, according to a projection by Local Government Information Services (LGIS), which publishes West Central Reporter.

The projection assumes Brenner received $30,115 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Brenner will have already received $93,082 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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