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McLean County Times

Saturday, April 20, 2024

Former state university employee Crawford paid in $88K to pension fund, could collect $1.94M in retirement

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Former state university employee Robert Crawford, who retired in September 2017, saved $88,013 toward a pension over 31 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Crawford would collect as much as $1.94 million, according to a projection by Local Government Information Services (LGIS), which publishes McLean County Times.

The projection assumes Crawford received $40,673 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Crawford will have already received $125,716 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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