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Sangamon Sun

Friday, July 11, 2025

Former state university employee Knox paid in $13K to pension fund, could collect $164K in retirement

Money 06

Former state university employee Terry Knox, who retired in January 2019, saved $12,640 toward a pension over 14 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Knox would collect as much as $163,849, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Knox received $3,444 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Knox will have already received $14,407 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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