Former state university employee Fischer paid in $103K to pension fund, could collect $2.08M in retirement

By Local Labs News Service

Apr 1, 2017

Former state university employee Lisa Fischer, who retired in March 2017, saved $103,381 toward a pension over 23 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Fischer would collect as much as $2.08 million, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.

The projection assumes Fischer received $43,718 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Fischer will have already received $135,129 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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