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Carbondale Reporter

Saturday, April 19, 2025

Former state university employee Swearingen paid in $39K to pension fund, could collect $546K in retirement

Money 08

Former state university employee Janice Swearingen, who retired in January 2016, saved $39,374 toward a pension over 17 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Swearingen would collect as much as $546,161, according to a projection by Local Government Information Services (LGIS), which publishes Carbondale Reporter.

The projection assumes Swearingen received $11,479 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Swearingen will have already received $48,023 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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