Former state university employee Conwell paid in $168K to pension fund, could collect $4.21M in retirement

By East Central Reporter Reports

Feb 1, 2016

Former state university employee James Conwell, who retired in January 2016, saved $167,799 toward a pension over 31 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Conwell would collect as much as $4.21 million, according to a projection by Local Government Information Services (LGIS), which publishes East Central Reporter.

The projection assumes Conwell received $88,428 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Conwell will have already received $179,509 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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