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South Cook News

Thursday, April 18, 2024

Former state university employee Doot paid in $866 to pension fund, could collect $192K in retirement

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Former state university employee Barbara Doot, who retired in June 2018, saved $866 toward a pension over 3 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Doot would collect as much as $191,578, according to a projection by Local Government Information Services (LGIS), which publishes South Cook News.

The projection assumes Doot received $4,026 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Doot will have already received $4,026 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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