Former state university employee MacDonell paid in $100K to pension fund, could collect $1.33M in retirement

By Local Labs News Service

Feb 1, 2019

Former state university employee Mildred MacDonell, who retired in January 2019, saved $100,241 toward a pension over 15 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, MacDonell would collect as much as $1.33 million, according to a projection by Local Government Information Services (LGIS), which publishes West Central Reporter.

The projection assumes MacDonell received $27,972 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, MacDonell will have already received $117,023 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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Western Illinois University

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