DeKalb Times

DeKalb Times

Tuesday, October 15, 2019

Former state university employee Nixon paid in $63K to pension fund, could collect $1.02M in retirement

Schools

By Local Labs News Service | Nov 1, 2018


Former state university employee Danell Nixon, who retired in October 2018, saved $62,661 toward a pension over 20 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Nixon would collect as much as $1.02 million, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Nixon received $21,367 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Nixon will have already received $66,043 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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