Former state university employee Higelmire paid in $192K to pension fund, could collect $4.54M in retirement

By East Central Reporter Reports

Feb 1, 2016

Former state university employee William Higelmire, who retired in January 2016, saved $191,815 toward a pension over 29 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Higelmire would collect as much as $4.54 million, according to a projection by Local Government Information Services (LGIS), which publishes East Central Reporter.

The projection assumes Higelmire received $95,531 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Higelmire will have already received $193,928 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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