Quantcast

DeKalb Times

Tuesday, November 5, 2024

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

Shutterstock 369740408

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.

ORGANIZATIONS IN THIS STORY

!RECEIVE ALERTS

The next time we write about any of these orgs, we’ll email you a link to the story. You may edit your settings or unsubscribe at any time.
Sign-up

DONATE

Help support the Metric Media Foundation's mission to restore community based news.
Donate

MORE NEWS