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Carbondale Reporter

Wednesday, April 24, 2024

Former state university employee Meech paid in $111K to pension fund, could collect $2.1M in retirement

Money041

Former state university employee Robert Meech, who retired in January 2019, saved $110,891 toward a pension over 32 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Meech would collect as much as $2.1 million, according to a projection by Local Government Information Services (LGIS), which publishes Carbondale Reporter.

The projection assumes Meech received $44,196 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Meech will have already received $136,606 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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