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Will County Gazette

Monday, November 25, 2024

Former state university employee Jacinto paid in $5K to pension fund, could collect $140K in retirement

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Former state university employee Margaret Jacinto, who retired in August 2016, saved $5,307 toward a pension over 1 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Jacinto would collect as much as $139,814, according to a projection by Local Government Information Services (LGIS), which publishes Will County Gazette.

The projection assumes Jacinto received $2,938 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Jacinto will have already received $5,964 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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