Quantcast

Macon Reporter

Saturday, February 1, 2025

Former state university employee Motor paid in $53K to pension fund, could collect $658K in retirement

Shutterstock 434242897

Former state university employee Michael Motor, who retired in June 2016, saved $52,558 toward a pension over 4 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Motor would collect as much as $657,962, according to a projection by Local Government Information Services (LGIS), which publishes Macon Reporter.

The projection assumes Motor received $13,829 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Motor will have already received $57,855 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

ORGANIZATIONS IN THIS STORY

!RECEIVE ALERTS

The next time we write about any of these orgs, we’ll email you a link to the story. You may edit your settings or unsubscribe at any time.
Sign-up

DONATE

Help support the Metric Media Foundation's mission to restore community based news.
Donate

MORE NEWS