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Peoria Standard

Tuesday, November 5, 2024

Former state university employee McIntosh paid in $27K to pension fund, could collect $327K in retirement

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Former state university employee Sherry McIntosh, who retired in April 2016, saved $27,169 toward a pension over 11 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, McIntosh would collect as much as $327,259, according to a projection by Local Government Information Services (LGIS), which publishes Peoria Standard.

The projection assumes McIntosh received $6,878 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, McIntosh will have already received $28,775 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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