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South Cook News

Friday, November 15, 2024

Former state university employee Gournoe paid in $13K to pension fund, could collect $354K in retirement

Money 07

Former state university employee Donna Gournoe, who retired in October 2017, saved $12,654 toward a pension over 19 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Gournoe would collect as much as $353,555, according to a projection by Local Government Information Services (LGIS), which publishes South Cook News.

The projection assumes Gournoe received $7,431 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Gournoe will have already received $15,085 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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