Former state university employee McAllister paid in $69K to pension fund, could collect $1.87M in retirement

By Local Labs News Service

Feb 1, 2018

Former state university employee Brian McAllister, who retired in January 2018, saved $69,387 toward a pension over 29 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, McAllister would collect as much as $1.87 million, according to a projection by Local Government Information Services (LGIS), which publishes Will County Gazette.

The projection assumes McAllister received $39,209 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, McAllister will have already received $79,594 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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