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McLean County Times

Tuesday, November 26, 2024

Former state university employee Dew paid in $74K to pension fund, could collect $1.86M in retirement

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Former state university employee Gina Dew, who retired in January 2016, saved $74,067 toward a pension over 30 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Dew would collect as much as $1.86 million, according to a projection by Local Government Information Services (LGIS), which publishes McLean County Times.

The projection assumes Dew received $39,035 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Dew will have already received $79,241 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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