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West Central Reporter

Tuesday, April 29, 2025

Former state university employee Webb paid in $67K to pension fund, could collect $1.09M in retirement

Money 05

Former state university employee Carol Webb, who retired in July 2018, saved $66,833 toward a pension over 11 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Webb would collect as much as $1.09 million, according to a projection by Local Government Information Services (LGIS), which publishes West Central Reporter.

The projection assumes Webb received $22,976 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Webb will have already received $71,016 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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