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Peoria Standard

Thursday, November 28, 2024

Former state university employee Dietrich paid in $67K to pension fund, could collect $1.15M in retirement

Money 07

Former state university employee Judy Dietrich, who retired in October 2018, saved $67,307 toward a pension over 21 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Dietrich would collect as much as $1.15 million, according to a projection by Local Government Information Services (LGIS), which publishes Peoria Standard.

The projection assumes Dietrich received $24,197 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Dietrich will have already received $74,791 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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