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West Cook News

Friday, November 22, 2024

Former state university employee De Boer paid in $10K to pension fund, could collect $195K in retirement

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Former state university employee Julie De Boer, who retired in April 2016, saved $9,825 toward a pension over 7 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, De Boer would collect as much as $194,701, according to a projection by Local Government Information Services (LGIS), which publishes West Cook News.

The projection assumes De Boer received $4,092 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, De Boer will have already received $12,648 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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