Former state university employee Esposito paid in $17K to pension fund, could collect $284K in retirement

By Rock Island Today Reports

Mar 1, 2018

Former state university employee John Esposito, who retired in February 2018, saved $16,549 toward a pension over 10 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Esposito would collect as much as $283,916, according to a projection by Local Government Information Services (LGIS), which publishes Rock Island Today.

The projection assumes Esposito received $5,967 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Esposito will have already received $18,443 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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