Quantcast

DeKalb Times

Saturday, April 19, 2025

Former state university employee Pickett paid in $4K to pension fund, could collect $75K in retirement

Money 07

Former state university employee Phyllis Pickett, who retired in June 2016, saved $4,031 toward a pension over 11 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Pickett would collect as much as $74,765, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Pickett received $1,571 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Pickett will have already received $4,856 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