Former state university employee McNutt paid in $24K to pension fund, could collect $317K in retirement

By Local Labs News Service

Feb 1, 2019

Former state university employee Echo McNutt, who retired in January 2019, saved $23,595 toward a pension over 9 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, McNutt would collect as much as $316,852, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes McNutt received $6,660 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, McNutt will have already received $27,864 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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Northeastern Illinois University

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