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McLean County Times

Sunday, November 24, 2024

Former state university employee Anderson paid in $143K to pension fund, could collect $2.79M in retirement

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Former state university employee David Anderson, who retired in August 2017, saved $143,021 toward a pension over 30 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Anderson would collect as much as $2.79 million, according to a projection by Local Government Information Services (LGIS), which publishes McLean County Times.

The projection assumes Anderson received $58,621 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Anderson will have already received $181,192 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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