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Quincy Reporter

Friday, November 22, 2024

Former state university employee Moore paid in $168K to pension fund, could collect $3.16M in retirement

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Former state university employee Mark Moore, who retired in August 2016, saved $168,162 toward a pension over 33 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Moore would collect as much as $3.16 million, according to a projection by Local Government Information Services (LGIS), which publishes Quincy Reporter.

The projection assumes Moore received $66,459 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Moore will have already received $205,419 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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