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McLean County Times

Friday, November 15, 2024

Former state university employee Beaulieu paid in $109K to pension fund, could collect $2.46M in retirement

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Former state university employee Peter Beaulieu, who retired in January 2018, saved $109,108 toward a pension over 32 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Beaulieu would collect as much as $2.46 million, according to a projection by Local Government Information Services (LGIS), which publishes McLean County Times.

The projection assumes Beaulieu received $51,682 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Beaulieu will have already received $159,743 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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