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McLean County Times

Tuesday, November 26, 2024

Former state university employee Fazel Sarjui paid in $114K to pension fund, could collect $4.46M in retirement

Money 06

Former state university employee Farzaneh Fazel Sarjui, who retired in January 2016, saved $114,388 toward a pension over 22 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Fazel Sarjui would collect as much as $4.46 million, according to a projection by Local Government Information Services (LGIS), which publishes McLean County Times.

The projection assumes Fazel Sarjui received $93,661 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Fazel Sarjui will have already received $190,132 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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