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McLean County Times

Tuesday, November 26, 2024

Former state university employee Weldon paid in $100K to pension fund, could collect $2.29M in retirement

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Former state university employee Sharon Weldon, who retired in January 2016, saved $99,683 toward a pension over 25 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Weldon would collect as much as $2.29 million, according to a projection by Local Government Information Services (LGIS), which publishes McLean County Times.

The projection assumes Weldon received $48,233 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Weldon will have already received $149,083 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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