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Metro East Sun

Monday, November 25, 2024

Former state university employee McIntosh paid in $77K to pension fund, could collect $1.92M in retirement

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Former state university employee Craig McIntosh, who retired in October 2018, saved $77,336 toward a pension over 30 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, McIntosh would collect as much as $1.92 million, according to a projection by Local Government Information Services (LGIS), which publishes Metro East Sun.

The projection assumes McIntosh received $40,407 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, McIntosh will have already received $82,026 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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