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McLean County Times

Monday, November 25, 2024

Former state university employee Tomlin paid in $18K to pension fund, could collect $282K in retirement

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Former state university employee Brenda Tomlin, who retired in July 2016, saved $18,446 toward a pension over 10 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Tomlin would collect as much as $281,867, according to a projection by Local Government Information Services (LGIS), which publishes McLean County Times.

The projection assumes Tomlin received $5,924 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Tomlin will have already received $24,785 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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