Former state university employee Connor paid in $39K to pension fund, could collect $1.17M in retirement

By Local Labs News Service

Aug 1, 2016

Former state university employee Selby Connor, who retired in July 2016, saved $38,981 toward a pension over 22 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Connor would collect as much as $1.17 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Connor received $24,582 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Connor will have already received $49,901 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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Northeastern Illinois University

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