Former state university employee Mathews paid in $13K to pension fund, could collect $225K in retirement

By Rock Island Today Reports

Sep 1, 2017

Former state university employee Holly Mathews, who retired in August 2017, saved $12,517 toward a pension over 7 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Mathews would collect as much as $225,130, according to a projection by Local Government Information Services (LGIS), which publishes Rock Island Today.

The projection assumes Mathews received $4,732 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Mathews will have already received $14,626 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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