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Sangamon Sun

Monday, May 12, 2025

Former state university employee Land paid in $331K to pension fund, could collect $7.04M in retirement

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Former state university employee Martin Land, who retired in July 2018, saved $330,798 toward a pension over 29 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Land would collect as much as $7.04 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Land received $148,005 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Land will have already received $457,468 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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