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DeKalb Times

Tuesday, November 5, 2024

Former state university employee Ross paid in $159K to pension fund, could collect $1.97M in retirement

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Former state university employee Gregory Ross, who retired in September 2017, saved $158,749 toward a pension over 28 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Ross would collect as much as $1.97 million, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Ross received $41,380 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Ross will have already received $173,118 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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