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DeKalb Times

Friday, November 22, 2024

Former state university employee Hawkins paid in $11K to pension fund, could collect $407K in retirement

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Former state university employee Belinda Hawkins, who retired in May 2017, saved $10,794 toward a pension over 5 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Hawkins would collect as much as $406,661, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Hawkins received $8,547 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Hawkins will have already received $17,350 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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