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Sangamon Sun

Saturday, May 3, 2025

Former state university employee McCormick paid in $4K to pension fund, could collect $199K in retirement

Money 03

Former state university employee Susan McCormick, who retired in June 2017, saved $4,428 toward a pension over 5 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, McCormick would collect as much as $198,703, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes McCormick received $4,176 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, McCormick will have already received $8,477 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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