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McLean County Times

Friday, April 26, 2024

Former state university employee Bozarth paid in $60K to pension fund, could collect $1.25M in retirement

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Former state university employee Patricia Bozarth, who retired in July 2017, saved $59,797 toward a pension over 24 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Bozarth would collect as much as $1.25 million, according to a projection by Local Government Information Services (LGIS), which publishes McLean County Times.

The projection assumes Bozarth received $26,309 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Bozarth will have already received $81,318 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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