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McLean County Times

Tuesday, November 26, 2024

Former state university employee Rardin paid in $135K to pension fund, could collect $3.36M in retirement

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Former state university employee David Rardin, who retired in January 2016, saved $134,737 toward a pension over 29 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Rardin would collect as much as $3.36 million, according to a projection by Local Government Information Services (LGIS), which publishes McLean County Times.

The projection assumes Rardin received $70,695 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Rardin will have already received $143,511 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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