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Peoria Standard

Thursday, April 18, 2024

Former state university employee Rosenberger Hinchee paid in $8K to pension fund, could collect $725K in retirement

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Former state university employee Cynthia Rosenberger Hinchee, who retired in August 2017, saved $8,204 toward a pension over 10 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Rosenberger Hinchee would collect as much as $725,431, according to a projection by Local Government Information Services (LGIS), which publishes Peoria Standard.

The projection assumes Rosenberger Hinchee received $15,248 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Rosenberger Hinchee will have already received $15,248 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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