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Kane County Reporter

Thursday, April 18, 2024

Former state university employee Lemus paid in $54K to pension fund, could collect $948K in retirement

Money272

Former state university employee Ana Lemus, who retired in December 2018, saved $53,754 toward a pension over 16 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Lemus would collect as much as $948,273, according to a projection by Local Government Information Services (LGIS), which publishes Kane County Reporter.

The projection assumes Lemus received $19,932 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Lemus will have already received $61,608 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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