Former state university employee Thomas paid in $55K to pension fund, could collect $734K in retirement

By Local Labs News Service

Apr 1, 2019

Former state university employee Rhonda Thomas, who retired in March 2019, saved $54,538 toward a pension over 13 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Thomas would collect as much as $734,183, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Thomas received $15,432 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Thomas will have already received $64,562 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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