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Will County Gazette

Sunday, November 24, 2024

Former state university employee Munoz paid in $9K to pension fund, could collect $202K in retirement

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Former state university employee Judy Munoz, who retired in December 2016, saved $9,099 toward a pension over 3 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Munoz would collect as much as $201,546, according to a projection by Local Government Information Services (LGIS), which publishes Will County Gazette.

The projection assumes Munoz received $4,236 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Munoz will have already received $13,093 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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