Quantcast

Sangamon Sun

Wednesday, June 4, 2025

Former state university employee Walker paid in $43K to pension fund, could collect $774K in retirement

Money 07

Former state university employee Joanne Walker, who retired in May 2018, saved $43,113 toward a pension over 21 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Walker would collect as much as $773,633, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Walker received $16,261 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Walker will have already received $50,261 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

MORE NEWS