Former state university employee Ward paid in $14K to pension fund, could collect $420K in retirement

By Rock Island Today Reports

Aug 1, 2017

Former state university employee Susan Ward, who retired in July 2017, saved $14,059 toward a pension over 11 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Ward would collect as much as $420,237, according to a projection by Local Government Information Services (LGIS), which publishes Rock Island Today.

The projection assumes Ward received $8,833 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Ward will have already received $17,931 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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