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Sangamon Sun

Tuesday, September 16, 2025

Former state university employee McDonough paid in $69K to pension fund, could collect $1.43M in retirement

Money 08

Former state university employee Teri McDonough, who retired in January 2016, saved $68,800 toward a pension over 28 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, McDonough would collect as much as $1.43 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes McDonough received $30,112 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, McDonough will have already received $93,072 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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