Former state university employee Thomas paid in $4K to pension fund, could collect $105K in retirement

By Rock Island Today Reports

Jul 1, 2017

Former state university employee Vincent Thomas, who retired in June 2017, saved $4,033 toward a pension over 9 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Thomas would collect as much as $104,846, according to a projection by Local Government Information Services (LGIS), which publishes Rock Island Today.

The projection assumes Thomas received $2,203 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Thomas will have already received $4,472 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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