Former state university employee McCullough paid in $36K to pension fund, could collect $892K in retirement

By East Central Reporter Reports

Nov 1, 2018

Former state university employee Dale McCullough, who retired in October 2018, saved $36,206 toward a pension over 20 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, McCullough would collect as much as $891,856, according to a projection by Local Government Information Services (LGIS), which publishes East Central Reporter.

The projection assumes McCullough received $18,746 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, McCullough will have already received $38,054 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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