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Will County Gazette

Monday, November 25, 2024

Former state university employee Buyer paid in $190K to pension fund, could collect $3.86M in retirement

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Former state university employee Linda Buyer, who retired in September 2016, saved $189,715 toward a pension over 28 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Buyer would collect as much as $3.86 million, according to a projection by Local Government Information Services (LGIS), which publishes Will County Gazette.

The projection assumes Buyer received $81,090 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Buyer will have already received $250,642 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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