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McLean County Times

Tuesday, April 23, 2024

Former state university employee Messenger paid in $7K to pension fund, could collect $365K in retirement

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Former state university employee Margaret Messenger, who retired in June 2017, saved $7,044 toward a pension over 4 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Messenger would collect as much as $364,768, according to a projection by Local Government Information Services (LGIS), which publishes McLean County Times.

The projection assumes Messenger received $7,667 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Messenger will have already received $7,667 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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