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Kane County Reporter

Friday, April 26, 2024

Former state university employee Hougham paid in $25K to pension fund, could collect $402K in retirement

Money 02

Former state university employee Nancy Hougham, who retired in August 2018, saved $25,196 toward a pension over 14 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Hougham would collect as much as $402,225, according to a projection by Local Government Information Services (LGIS), which publishes Kane County Reporter.

The projection assumes Hougham received $8,454 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Hougham will have already received $26,131 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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