McHenry Times

McHenry Times

Monday, November 18, 2019

Former state university employee Linden paid in $77K to pension fund, could collect $1.71M in retirement

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By Local Labs News Service | Jul 1, 2017

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Former state university employee James Linden, who retired in June 2017, saved $76,892 toward a pension over 25 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Linden would collect as much as $1.71 million, according to a projection by Local Government Information Services (LGIS), which publishes McHenry Times.

The projection assumes Linden received $35,907 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Linden will have already received $110,985 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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