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McLean County Times

Monday, December 23, 2024

Former state university employee Venchus paid in $3K to pension fund, could collect $232K in retirement

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Former state university employee Susan Venchus, who retired in July 2017, saved $3,084 toward a pension over 2 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Venchus would collect as much as $232,061, according to a projection by Local Government Information Services (LGIS), which publishes McLean County Times.

The projection assumes Venchus received $4,877 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Venchus will have already received $4,877 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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