Will County Gazette

Will County Gazette

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Former state university employee Gayden paid in $640 to pension fund, could collect $122K in retirement


By Local Labs News Service | May 1, 2018

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Former state university employee Donna Gayden, who retired in April 2018, saved $640 toward a pension over 1 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Gayden would collect as much as $122,493, according to a projection by Local Government Information Services (LGIS), which publishes Will County Gazette.

The projection assumes Gayden received $2,574 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Gayden will have already received $2,574 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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