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Will County Gazette

Saturday, November 23, 2024

Former state university employee Ardolino paid in $4K to pension fund, could collect $219K in retirement

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Former state university employee Susan Ardolino, who retired in June 2016, saved $4,205 toward a pension over 3 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Ardolino would collect as much as $218,930, according to a projection by Local Government Information Services (LGIS), which publishes Will County Gazette.

The projection assumes Ardolino received $4,601 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Ardolino will have already received $4,601 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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