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McLean County Times

Friday, November 15, 2024

Former state university employee Mansell paid in $20K to pension fund, could collect $718K in retirement

Money 06

Former state university employee Marilyn Mansell, who retired in January 2018, saved $20,091 toward a pension over 24 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Mansell would collect as much as $718,398, according to a projection by Local Government Information Services (LGIS), which publishes McLean County Times.

The projection assumes Mansell received $15,100 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Mansell will have already received $30,653 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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