Former state university employee Drew paid in $132K to pension fund, could collect $3.7M in retirement

By Rock Island Today Reports

Sep 1, 2018

Former state university employee Gary Drew, who retired in August 2018, saved $131,701 toward a pension over 28 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Drew would collect as much as $3.7 million, according to a projection by Local Government Information Services (LGIS), which publishes Rock Island Today.

The projection assumes Drew received $77,794 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Drew will have already received $157,922 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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