South Central Reporter

Former state university employee Eugene McAdoo, who retired in June 2018, saved $6,563 toward a pension over 7 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, McAdoo would collect as much as $42,817, according to a projection by Local Government Information Services (LGIS), which publishes South Central Reporter.

The projection assumes McAdoo received $900 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 7 years of retirement, McAdoo will have already received $6,899 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.