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McLean County Times

Tuesday, November 26, 2024

Former state university employee Cunningham paid in $3K to pension fund, could collect $140K in retirement

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Former state university employee Vicki Cunningham, who retired in February 2016, saved $3,212 toward a pension over 4 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Cunningham would collect as much as $140,265, according to a projection by Local Government Information Services (LGIS), which publishes McLean County Times.

The projection assumes Cunningham received $2,948 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Cunningham will have already received $5,984 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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