Sangamon Sun

Sangamon Sun

Saturday, February 22, 2020

Former state university employee McClintock paid in $7K to pension fund, could collect $128K in retirement


By Local Labs News Service | Jul 1, 2016

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Former state university employee Roger McClintock, who retired in June 2016, saved $6,714 toward a pension over 11 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, McClintock would collect as much as $127,505, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes McClintock received $2,680 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, McClintock will have already received $8,283 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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