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McLean County Times

Saturday, November 16, 2024

Former state university employee Widmer paid in $317K to pension fund, could collect $9.49M in retirement

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Former state university employee Robert Widmer, who retired in July 2018, saved $316,915 toward a pension over 36 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Widmer would collect as much as $9.49 million, according to a projection by Local Government Information Services (LGIS), which publishes McLean County Times.

The projection assumes Widmer received $199,387 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Widmer will have already received $404,756 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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