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McLean County Times

Monday, December 23, 2024

Former state university employee Walker paid in $10K to pension fund, could collect $463K in retirement

Money 03

Former state university employee Shari Walker, who retired in September 2016, saved $10,305 toward a pension over 6 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Walker would collect as much as $462,632, according to a projection by Local Government Information Services (LGIS), which publishes McLean County Times.

The projection assumes Walker received $9,724 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Walker will have already received $19,740 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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