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McLean County Times

Saturday, November 2, 2024

Former state university employee Martinez paid in $60K to pension fund, could collect $1,000K in retirement

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Former state university employee Bertha Martinez, who retired in October 2018, saved $60,343 toward a pension over 25 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Martinez would collect as much as $999,654, according to a projection by Local Government Information Services (LGIS), which publishes McLean County Times.

The projection assumes Martinez received $21,012 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Martinez will have already received $64,945 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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