Former state university employee Jared paid in $42K to pension fund, could collect $807K in retirement

By Rock Island Today Reports

Feb 1, 2019

Former state university employee Yvonne Jared, who retired in January 2019, saved $42,333 toward a pension over 27 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Jared would collect as much as $807,259, according to a projection by Local Government Information Services (LGIS), which publishes Rock Island Today.

The projection assumes Jared received $16,968 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Jared will have already received $52,446 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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