Quantcast

Chambana Sun

Tuesday, April 29, 2025

Former state university employee McCullough paid in $4K to pension fund, could collect $55K in retirement

Money 07

Former state university employee William McCullough, who retired in March 2017, saved $3,765 toward a pension over 6 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, McCullough would collect as much as $55,172, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes McCullough received $1,159 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, McCullough will have already received $4,850 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

MORE NEWS