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North Egypt News

Sunday, February 23, 2025

Former state university employee Givens paid in $4K to pension fund, could collect $351K in retirement

Money 05

Former state university employee Joann Givens, who retired in August 2017, saved $3,892 toward a pension over 5 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Givens would collect as much as $351,454, according to a projection by Local Government Information Services (LGIS), which publishes North Egypt News.

The projection assumes Givens received $7,387 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Givens will have already received $7,387 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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