McLean County Times

Former state university employee Karen Webb, who retired in December 2018, saved $55,142 toward a pension over 18 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Webb would collect as much as $703,354, according to a projection by Local Government Information Services (LGIS), which publishes McLean County Times.

The projection assumes Webb received $14,784 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Webb will have already received $61,853 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.