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DeKalb Times

Thursday, April 25, 2024

Former state university employee Nixon paid in $31K to pension fund, could collect $728K in retirement

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Former state university employee William Nixon, who retired in December 2018, saved $30,990 toward a pension over 19 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Nixon would collect as much as $727,903, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Nixon received $15,300 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Nixon will have already received $31,059 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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