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DeKalb Times

Sunday, November 17, 2024

Former state university employee Walker paid in $73K to pension fund, could collect $3.09M in retirement

Money836

Former state university employee James Walker, who retired in June 2018, saved $73,422 toward a pension over 18 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Walker would collect as much as $3.09 million, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Walker received $64,878 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Walker will have already received $131,702 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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