Will County Gazette

Will County Gazette

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Former state university employee Julian paid in $15K to pension fund, could collect $230K in retirement

Schools

By Local Labs News Service | May 1, 2016

Money 01

Former state university employee Leann Julian, who retired in April 2016, saved $14,692 toward a pension over 10 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Julian would collect as much as $229,789, according to a projection by Local Government Information Services (LGIS), which publishes Will County Gazette.

The projection assumes Julian received $4,830 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Julian will have already received $14,929 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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