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Will County Gazette

Friday, April 19, 2024

Former state university employee Giroux paid in $26K to pension fund, could collect $385K in retirement

Money 02

Former state university employee Joyce Giroux, who retired in October 2018, saved $26,446 toward a pension over 10 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Giroux would collect as much as $384,561, according to a projection by Local Government Information Services (LGIS), which publishes Will County Gazette.

The projection assumes Giroux received $8,083 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Giroux will have already received $33,815 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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