Former state university employee Anderson paid in $19K to pension fund, could collect $405K in retirement

By Local Labs News Service

Feb 1, 2016

Former state university employee Dale Anderson, who retired in January 2016, saved $18,741 toward a pension over 16 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Anderson would collect as much as $405,131, according to a projection by Local Government Information Services (LGIS), which publishes Kane County Reporter.

The projection assumes Anderson received $8,515 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Anderson will have already received $26,318 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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Elgin Community College

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