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DeKalb Times

Friday, April 18, 2025

Former state university employee Peel paid in $26K to pension fund, could collect $762K in retirement

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Former state university employee Charlotte Peel, who retired in January 2016, saved $26,113 toward a pension over 16 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Peel would collect as much as $761,998, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Peel received $16,016 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Peel will have already received $32,512 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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