Quantcast

DeKalb Times

Sunday, July 13, 2025

Former state university employee May paid in $72K to pension fund, could collect $1.13M in retirement

Shutterstock 385535740

Former state university employee Allen May, who retired in January 2016, saved $71,616 toward a pension over 16 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, May would collect as much as $1.13 million, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes May received $23,852 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, May will have already received $73,725 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