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West Cook News

Sunday, November 24, 2024

Former state university employee Crowl paid in $38K to pension fund, could collect $661K in retirement

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Former state university employee Shawn Crowl, who retired in February 2016, saved $38,112 toward a pension over 11 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Crowl would collect as much as $661,421, according to a projection by Local Government Information Services (LGIS), which publishes West Cook News.

The projection assumes Crowl received $13,902 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Crowl will have already received $42,970 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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