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Sangamon Sun

Friday, November 22, 2024

Former state university employee Walker paid in $13K to pension fund, could collect $163K in retirement

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Former state university employee Janice Walker, who retired in April 2019, saved $12,786 toward a pension over 5 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Walker would collect as much as $163,278, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Walker received $3,432 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Walker will have already received $14,358 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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