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DeKalb Times

Sunday, November 24, 2024

Former state university employee Buck paid in $86K to pension fund, could collect $1.81M in retirement

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Former state university employee Elizabeth Buck, who retired in February 2018, saved $85,977 toward a pension over 31 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Buck would collect as much as $1.81 million, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Buck received $37,954 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Buck will have already received $117,313 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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