Quantcast

Sangamon Sun

Monday, May 12, 2025

Former state university employee Nelson paid in $207K to pension fund, could collect $5.19M in retirement

Shutterstock 443523118

Former state university employee Wayne Nelson, who retired in July 2018, saved $207,019 toward a pension over 29 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Nelson would collect as much as $5.19 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Nelson received $108,989 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Nelson will have already received $221,248 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

MORE NEWS