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West Central Reporter

Friday, April 19, 2024

Former state university employee Depoy paid in $42K to pension fund, could collect $610K in retirement

Money 02

Former state university employee Toni Depoy, who retired in January 2016, saved $42,069 toward a pension over 20 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Depoy would collect as much as $609,800, according to a projection by Local Government Information Services (LGIS), which publishes West Central Reporter.

The projection assumes Depoy received $12,817 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Depoy will have already received $53,623 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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