Prairie State Wire

Prairie State Wire

Monday, October 21, 2019

Former state university employee Bonnett paid in $5K to pension fund, could collect $204K in retirement


By Local Labs News Service | Aug 1, 2016

Former state university employee Lisa Bonnett, who retired in July 2016, saved $4,845 toward a pension over 1 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Bonnett would collect as much as $204,018, according to a projection by Local Government Information Services (LGIS), which publishes Prairie State Wire.

The projection assumes Bonnett received $4,288 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Bonnett will have already received $8,705 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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