Quantcast

Chambana Sun

Monday, April 28, 2025

Former state university employee Shields paid in $65K to pension fund, could collect $1.03M in retirement

Shutterstock 450769633

Former state university employee William Shields, who retired in August 2016, saved $65,287 toward a pension over 15 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Shields would collect as much as $1.03 million, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Shields received $21,602 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Shields will have already received $66,770 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

MORE NEWS