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Peoria Standard

Friday, November 22, 2024

Former state university employee Boniger paid in $18K to pension fund, could collect $316K in retirement

Money 06

Former state university employee Debra Boniger, who retired in February 2016, saved $18,063 toward a pension over 9 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Boniger would collect as much as $315,961, according to a projection by Local Government Information Services (LGIS), which publishes Peoria Standard.

The projection assumes Boniger received $6,641 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Boniger will have already received $20,526 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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