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East Central Reporter

Wednesday, May 14, 2025

Former state university employee Swisher paid in $5K to pension fund, could collect $43K in retirement

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Former state university employee Richard Swisher, who retired in December 2018, saved $4,527 toward a pension over 6 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Swisher would collect as much as $42,817, according to a projection by Local Government Information Services (LGIS), which publishes East Central Reporter.

The projection assumes Swisher received $900 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 5 years of retirement, Swisher will have already received $4,780 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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