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McLean County Times

Tuesday, November 26, 2024

Former state university employee Mayer Morris paid in $88K to pension fund, could collect $1.61M in retirement

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Former state university employee Victoria Mayer Morris, who retired in January 2016, saved $88,392 toward a pension over 26 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Mayer Morris would collect as much as $1.61 million, according to a projection by Local Government Information Services (LGIS), which publishes McLean County Times.

The projection assumes Mayer Morris received $33,824 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Mayer Morris will have already received $104,547 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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