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West Central Reporter

Thursday, April 25, 2024

Former state university employee Moniri paid in $41K to pension fund, could collect $460K in retirement

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Former state university employee Mojtaba Moniri, who retired in September 2018, saved $40,654 toward a pension over 9 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Moniri would collect as much as $460,029, according to a projection by Local Government Information Services (LGIS), which publishes West Central Reporter.

The projection assumes Moniri received $9,669 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 5 years of retirement, Moniri will have already received $51,335 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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