Former state university employee Johnson paid in $20K to pension fund, could collect $837K in retirement

By Rock Island Today Reports

Jan 1, 2017

Former state university employee Cynthia Johnson, who retired in December 2016, saved $19,861 toward a pension over 10 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Johnson would collect as much as $837,135, according to a projection by Local Government Information Services (LGIS), which publishes Rock Island Today.

The projection assumes Johnson received $17,595 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Johnson will have already received $35,718 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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