Quantcast

Sangamon Sun

Thursday, May 22, 2025

Former state university employee Russell paid in $131K to pension fund, could collect $2.11M in retirement

Money 02

Former state university employee William Russell, who retired in July 2017, saved $130,631 toward a pension over 19 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Russell would collect as much as $2.11 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Russell received $44,432 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Russell will have already received $137,335 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