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Quincy Reporter

Monday, November 25, 2024

Former state university employee Akers paid in $21K to pension fund, could collect $313K in retirement

Money272

Former state university employee Elizabeth Akers, who retired in July 2017, saved $20,759 toward a pension over 13 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Akers would collect as much as $312,758, according to a projection by Local Government Information Services (LGIS), which publishes Quincy Reporter.

The projection assumes Akers received $6,573 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Akers will have already received $27,498 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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