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McLean County Times

Tuesday, November 26, 2024

Former state university employee Mundell Bligh paid in $11K to pension fund, could collect $337K in retirement

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Former state university employee Kathryn Mundell Bligh, who retired in April 2016, saved $11,167 toward a pension over 6 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Mundell Bligh would collect as much as $337,319, according to a projection by Local Government Information Services (LGIS), which publishes McLean County Times.

The projection assumes Mundell Bligh received $7,090 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Mundell Bligh will have already received $14,393 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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