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McLean County Times

Saturday, November 16, 2024

Former state university employee Dodds paid in $10K to pension fund, could collect $200K in retirement

Money836

Former state university employee David Dodds, who retired in July 2018, saved $10,237 toward a pension over 3 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Dodds would collect as much as $200,062, according to a projection by Local Government Information Services (LGIS), which publishes McLean County Times.

The projection assumes Dodds received $4,205 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Dodds will have already received $12,997 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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