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McLean County Times

Sunday, November 24, 2024

Former state university employee Hale paid in $109K to pension fund, could collect $945K in retirement

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Former state university employee Rosa Hale, who retired in August 2017, saved $108,790 toward a pension over 5 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Hale would collect as much as $944,864, according to a projection by Local Government Information Services (LGIS), which publishes McLean County Times.

The projection assumes Hale received $19,860 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 6 years of retirement, Hale will have already received $128,465 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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