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West Central Reporter

Tuesday, November 26, 2024

Former state university employee Royer paid in $41K to pension fund, could collect $769K in retirement

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Former state university employee Clarene Royer, who retired in January 2017, saved $40,763 toward a pension over 19 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Royer would collect as much as $768,626, according to a projection by Local Government Information Services (LGIS), which publishes West Central Reporter.

The projection assumes Royer received $16,155 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Royer will have already received $49,934 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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