Former state university employee Hartman paid in $105K to pension fund, could collect $2.29M in retirement

By Rock Island Today Reports

Aug 1, 2016

Former state university employee John Hartman, who retired in July 2016, saved $104,665 toward a pension over 28 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Hartman would collect as much as $2.29 million, according to a projection by Local Government Information Services (LGIS), which publishes Rock Island Today.

The projection assumes Hartman received $48,217 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Hartman will have already received $149,035 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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