Former state university employee Sacco paid in $18K to pension fund, could collect $263K in retirement

By Rock Island Today Reports

Nov 1, 2018

Former state university employee Theresa Sacco, who retired in October 2018, saved $18,145 toward a pension over 10 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Sacco would collect as much as $263,289, according to a projection by Local Government Information Services (LGIS), which publishes Rock Island Today.

The projection assumes Sacco received $5,534 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Sacco will have already received $23,152 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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