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McLean County Times

Thursday, April 25, 2024

Former state university employee Zeller paid in $21K to pension fund, could collect $905K in retirement

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Former state university employee Wayne Zeller, who retired in March 2019, saved $20,544 toward a pension over 6 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Zeller would collect as much as $905,455, according to a projection by Local Government Information Services (LGIS), which publishes McLean County Times.

The projection assumes Zeller received $19,032 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Zeller will have already received $38,635 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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