Quantcast

Sangamon Sun

Friday, April 18, 2025

Former state university employee Montfort paid in $43K to pension fund, could collect $1.33M in retirement

Shutterstock 113962678

Former state university employee David Montfort, who retired in June 2017, saved $42,812 toward a pension over 16 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Montfort would collect as much as $1.33 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Montfort received $27,948 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Montfort will have already received $56,734 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

ORGANIZATIONS IN THIS STORY

!RECEIVE ALERTS

The next time we write about any of these orgs, we’ll email you a link to the story. You may edit your settings or unsubscribe at any time.
Sign-up

DONATE

Help support the Metric Media Foundation's mission to restore community based news.
Donate

MORE NEWS