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McLean County Times

Thursday, April 25, 2024

Former state university employee Filas paid in $1K to pension fund, could collect $22K in retirement

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Former state university employee Kenneth Filas, who retired in September 2017, saved $1,385 toward a pension over 5 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Filas would collect as much as $21,568, according to a projection by Local Government Information Services (LGIS), which publishes McLean County Times.

The projection assumes Filas received $453 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Filas will have already received $1,401 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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