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West Central Reporter

Friday, April 19, 2024

Former state university employee Yeast paid in $143K to pension fund, could collect $3.31M in retirement

Money 06

Former state university employee Judy Yeast, who retired in January 2016, saved $142,894 toward a pension over 33 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Yeast would collect as much as $3.31 million, according to a projection by Local Government Information Services (LGIS), which publishes West Central Reporter.

The projection assumes Yeast received $69,517 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Yeast will have already received $214,871 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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