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McLean County Times

Sunday, November 24, 2024

Former state university employee Singer paid in $4K to pension fund, could collect $57K in retirement

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Former state university employee Rochelle Singer, who retired in June 2016, saved $3,884 toward a pension over 9 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Singer would collect as much as $56,553, according to a projection by Local Government Information Services (LGIS), which publishes McLean County Times.

The projection assumes Singer received $1,188 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Singer will have already received $4,972 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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