West Cook News

West Cook News

Wednesday, October 16, 2019

Former state university employee Tomal paid in $5K to pension fund, could collect $48K in retirement


By West Cook News | Oct 1, 2016

Former state university employee Annette Tomal, who retired in September 2016, saved $4,785 toward a pension over 2 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Tomal would collect as much as $48,304, according to a projection by Local Government Information Services (LGIS), which publishes West Cook News.

The projection assumes Tomal received $1,015 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 5 years of retirement, Tomal will have already received $5,385 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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