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DeKalb Times

Sunday, November 17, 2024

Former state university employee Chandler paid in $78K to pension fund, could collect $1.55M in retirement

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Former state university employee Jeffrey Chandler, who retired in June 2018, saved $77,638 toward a pension over 32 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Chandler would collect as much as $1.55 million, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Chandler received $32,580 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Chandler will have already received $100,701 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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