Former state university employee Anderson paid in $99K to pension fund, could collect $2.5M in retirement

By East Central Reporter Reports

Feb 1, 2016

Former state university employee Glenn Anderson, who retired in January 2016, saved $99,005 toward a pension over 29 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Anderson would collect as much as $2.5 million, according to a projection by Local Government Information Services (LGIS), which publishes East Central Reporter.

The projection assumes Anderson received $52,540 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Anderson will have already received $106,656 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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Eastern Illinois University

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