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Peoria Standard

Friday, April 26, 2024

Former state university employee Rivera Marsden paid in $1K to pension fund, could collect $40K in retirement

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Former state university employee Rochelle Rivera Marsden, who retired in June 2018, saved $1,181 toward a pension over 1 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Rivera Marsden would collect as much as $40,323, according to a projection by Local Government Information Services (LGIS), which publishes Peoria Standard.

The projection assumes Rivera Marsden received $847 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Rivera Marsden will have already received $1,719 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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