Former state university employee Schumann paid in $939 to pension fund, could collect $193K in retirement

By Rock Island Today Reports

Apr 1, 2017

Former state university employee Roxy Schumann, who retired in March 2017, saved $939 toward a pension over 2 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Schumann would collect as much as $193,416, according to a projection by Local Government Information Services (LGIS), which publishes Rock Island Today.

The projection assumes Schumann received $4,065 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Schumann will have already received $4,065 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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