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West Central Reporter

Friday, April 19, 2024

Former state university employee Shogren paid in $70K to pension fund, could collect $1.36M in retirement

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Former state university employee Linda Shogren, who retired in January 2019, saved $69,743 toward a pension over 30 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Shogren would collect as much as $1.36 million, according to a projection by Local Government Information Services (LGIS), which publishes West Central Reporter.

The projection assumes Shogren received $28,584 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Shogren will have already received $88,351 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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