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West Central Reporter

Saturday, November 23, 2024

Former state university employee Fisher paid in $29K to pension fund, could collect $451K in retirement

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Former state university employee Eva Fisher, who retired in August 2016, saved $29,346 toward a pension over 16 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Fisher would collect as much as $450,849, according to a projection by Local Government Information Services (LGIS), which publishes West Central Reporter.

The projection assumes Fisher received $9,476 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Fisher will have already received $39,644 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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