Former state university employee Martin paid in $32K to pension fund, could collect $611K in retirement

By Local Labs News Service

Mar 1, 2016

Former state university employee David Martin, who retired in February 2016, saved $31,603 toward a pension over 8 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Martin would collect as much as $611,102, according to a projection by Local Government Information Services (LGIS), which publishes McLean County Times.

The projection assumes Martin received $12,844 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Martin will have already received $39,699 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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Illinois State University

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