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McLean County Times

Thursday, April 25, 2024

Former state university employee Swanzy paid in $10K to pension fund, could collect $318K in retirement

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Former state university employee Paula Swanzy, who retired in December 2016, saved $9,664 toward a pension over 9 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Swanzy would collect as much as $317,988, according to a projection by Local Government Information Services (LGIS), which publishes McLean County Times.

The projection assumes Swanzy received $6,683 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Swanzy will have already received $13,566 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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