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Chambana Sun

Tuesday, April 29, 2025

Former state university employee McElroy paid in $48K to pension fund, could collect $1.61M in retirement

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Former state university employee Todd McElroy, who retired in March 2018, saved $48,000 toward a pension over 8 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, McElroy would collect as much as $1.61 million, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes McElroy received $33,844 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, McElroy will have already received $68,703 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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