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Sangamon Sun

Tuesday, July 22, 2025

Former state university employee Culton paid in $60K to pension fund, could collect $1.12M in retirement

Money 06

Former state university employee Kenneth Culton, who retired in November 2016, saved $60,304 toward a pension over 16 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Culton would collect as much as $1.12 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Culton received $23,556 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Culton will have already received $72,810 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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