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Sangamon Sun

Monday, May 12, 2025

Former state university employee Hicks paid in $144K to pension fund, could collect $2.53M in retirement

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Former state university employee Jeffrey Hicks, who retired in January 2019, saved $144,197 toward a pension over 25 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Hicks would collect as much as $2.53 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Hicks received $53,148 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Hicks will have already received $164,274 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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