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DeKalb Times

Saturday, April 19, 2025

Former state university employee Gochee paid in $59K to pension fund, could collect $1.29M in retirement

Money 06

Former state university employee Verda Gochee, who retired in July 2016, saved $58,754 toward a pension over 27 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Gochee would collect as much as $1.29 million, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Gochee received $27,064 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Gochee will have already received $83,652 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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