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Peoria Standard

Monday, May 20, 2024

Former state university employee Auger paid in $60K to pension fund, could collect $986K in retirement

Money272

Former state university employee Julie Auger, who retired in June 2016, saved $59,641 toward a pension over 11 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Auger would collect as much as $986,324, according to a projection by Local Government Information Services (LGIS), which publishes Peoria Standard.

The projection assumes Auger received $20,731 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Auger will have already received $64,078 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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