Former state university employee MacKinson paid in $40K to pension fund, could collect $572K in retirement

By Local Labs News Service

Mar 1, 2019

Former state university employee Sharon MacKinson, who retired in February 2019, saved $40,302 toward a pension over 16 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, MacKinson would collect as much as $572,046, according to a projection by Local Government Information Services (LGIS), which publishes McLean County Times.

The projection assumes MacKinson received $12,024 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, MacKinson will have already received $50,306 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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