Former state university employee Slater paid in $25K to pension fund, could collect $582K in retirement

By Rock Island Today Reports

Jul 1, 2018

Former state university employee Cynthia Slater, who retired in June 2018, saved $24,738 toward a pension over 24 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Slater would collect as much as $581,974, according to a projection by Local Government Information Services (LGIS), which publishes Rock Island Today.

The projection assumes Slater received $12,232 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Slater will have already received $24,831 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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