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McLean County Times

Saturday, November 23, 2024

Former state university employee Sward paid in $8K to pension fund, could collect $87K in retirement

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Former state university employee Linda Sward, who retired in June 2017, saved $8,223 toward a pension over 1 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Sward would collect as much as $86,754, according to a projection by Local Government Information Services (LGIS), which publishes McLean County Times.

The projection assumes Sward received $1,823 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 5 years of retirement, Sward will have already received $9,679 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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