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West Central Reporter

Tuesday, November 26, 2024

Former state university employee Strother Adams paid in $74K to pension fund, could collect $2.31M in retirement

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Former state university employee Pearlie Strother Adams, who retired in June 2016, saved $73,803 toward a pension over 24 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Strother Adams would collect as much as $2.31 million, according to a projection by Local Government Information Services (LGIS), which publishes West Central Reporter.

The projection assumes Strother Adams received $48,452 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Strother Adams will have already received $98,358 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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