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McLean County Times

Saturday, November 16, 2024

Former state university employee Seth paid in $11K to pension fund, could collect $286K in retirement

Money 07

Former state university employee Linda Seth, who retired in July 2018, saved $11,392 toward a pension over 2 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Seth would collect as much as $285,874, according to a projection by Local Government Information Services (LGIS), which publishes McLean County Times.

The projection assumes Seth received $6,008 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Seth will have already received $12,196 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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