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Kane County Reporter

Friday, December 27, 2024

Former state university employee Slawson paid in $197K to pension fund, could collect $5.83M in retirement

Money 01

Former state university employee John Slawson, who retired in September 2016, saved $196,693 toward a pension over 30 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Slawson would collect as much as $5.83 million, according to a projection by Local Government Information Services (LGIS), which publishes Kane County Reporter.

The projection assumes Slawson received $122,452 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Slawson will have already received $248,578 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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