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McLean County Times

Monday, November 25, 2024

Former state university employee Browder paid in $131K to pension fund, could collect $2.86M in retirement

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Former state university employee Daniel Browder, who retired in June 2016, saved $130,985 toward a pension over 30 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Browder would collect as much as $2.86 million, according to a projection by Local Government Information Services (LGIS), which publishes McLean County Times.

The projection assumes Browder received $60,031 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Browder will have already received $185,550 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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