Will County Gazette

Will County Gazette

Thursday, April 9, 2020

Former state university employee Dalton paid in $17K to pension fund, could collect $236K in retirement

Schools

By Local Labs News Service | Oct 1, 2017

Money 08

Former state university employee Mary Dalton, who retired in September 2017, saved $16,723 toward a pension over 11 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Dalton would collect as much as $235,966, according to a projection by Local Government Information Services (LGIS), which publishes Will County Gazette.

The projection assumes Dalton received $4,959 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Dalton will have already received $20,747 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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