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Peoria Standard

Sunday, November 24, 2024

Former state university employee Strow paid in $93K to pension fund, could collect $1.66M in retirement

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Former state university employee Nguyet Anh Strow, who retired in September 2017, saved $93,068 toward a pension over 16 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Strow would collect as much as $1.66 million, according to a projection by Local Government Information Services (LGIS), which publishes Peoria Standard.

The projection assumes Strow received $34,890 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Strow will have already received $107,842 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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