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South Cook News

Sunday, December 15, 2019

Former state university employee Righter paid in $56K to pension fund, could collect $1.71M in retirement


By Local Labs News Service | Jan 1, 2018

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Former state university employee Gina Righter, who retired in December 2017, saved $55,519 toward a pension over 29 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Righter would collect as much as $1.71 million, according to a projection by Local Government Information Services (LGIS), which publishes South Cook News.

The projection assumes Righter received $35,947 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Righter will have already received $72,972 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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