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Illinois Valley Times

Monday, November 25, 2024

Former state university employee Vescogni paid in $106K to pension fund, could collect $1.8M in retirement

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Former state university employee Emily Vescogni, who retired in February 2018, saved $106,145 toward a pension over 28 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Vescogni would collect as much as $1.8 million, according to a projection by Local Government Information Services (LGIS), which publishes Illinois Valley Times.

The projection assumes Vescogni received $37,868 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Vescogni will have already received $117,046 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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