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Illinois Valley Times

Wednesday, December 25, 2024

Former state university employee Nink paid in $93K to pension fund, could collect $1.26M in retirement

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Former state university employee Tina Nink, who retired in January 2017, saved $92,567 toward a pension over 19 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Nink would collect as much as $1.26 million, according to a projection by Local Government Information Services (LGIS), which publishes Illinois Valley Times.

The projection assumes Nink received $26,405 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Nink will have already received $110,468 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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