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McLean County Times

Sunday, November 24, 2024

Former state university employee Lyman Weiman paid in $128K to pension fund, could collect $2.67M in retirement

Money 07

Former state university employee Linda Lyman Weiman, who retired in January 2017, saved $128,105 toward a pension over 23 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Lyman Weiman would collect as much as $2.67 million, according to a projection by Local Government Information Services (LGIS), which publishes McLean County Times.

The projection assumes Lyman Weiman received $56,018 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Lyman Weiman will have already received $173,147 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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