Will County Gazette

Will County Gazette

Tuesday, April 7, 2020

Former state university employee Golden paid in $510 to pension fund, could collect $12K in retirement

Schools

By Local Labs News Service | Aug 1, 2018

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Former state university employee Barbara Golden, who retired in July 2018, saved $510 toward a pension over 2 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Golden would collect as much as $11,989, according to a projection by Local Government Information Services (LGIS), which publishes Will County Gazette.

The projection assumes Golden received $252 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Golden will have already received $512 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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