Former state university employee Callaway paid in $105K to pension fund, could collect $1.68M in retirement

By East Central Reporter Reports

Aug 1, 2018

Former state university employee Bryan Callaway, who retired in July 2018, saved $104,647 toward a pension over 23 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Callaway would collect as much as $1.68 million, according to a projection by Local Government Information Services (LGIS), which publishes East Central Reporter.

The projection assumes Callaway received $35,400 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Callaway will have already received $109,418 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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