Former state university employee Monson paid in $82K to pension fund, could collect $1.29M in retirement

By Rock Island Today Reports

Aug 1, 2016

Former state university employee Shari Monson, who retired in July 2016, saved $82,413 toward a pension over 18 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Monson would collect as much as $1.29 million, according to a projection by Local Government Information Services (LGIS), which publishes Rock Island Today.

The projection assumes Monson received $27,024 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Monson will have already received $83,529 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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