Former state university employee Zenner paid in $195K to pension fund, could collect $4.44M in retirement

By Local Labs News Service

Jul 1, 2018

Former state university employee Mary Zenner, who retired in June 2018, saved $194,657 toward a pension over 27 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Zenner would collect as much as $4.44 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Zenner received $93,257 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Zenner will have already received $288,249 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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College of Lake County

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