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McLean County Times

Saturday, April 20, 2024

Former state university employee Nelson paid in $56K to pension fund, could collect $996K in retirement

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Former state university employee Deborah Nelson, who retired in May 2017, saved $56,293 toward a pension over 19 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Nelson would collect as much as $995,766, according to a projection by Local Government Information Services (LGIS), which publishes McLean County Times.

The projection assumes Nelson received $20,930 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Nelson will have already received $64,693 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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