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DeKalb Times

Saturday, June 7, 2025

Former state university employee Ellis paid in $12K to pension fund, could collect $284K in retirement

Money272

Former state university employee Michael Ellis, who retired in June 2016, saved $12,069 toward a pension over 3 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Ellis would collect as much as $284,099, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Ellis received $5,971 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Ellis will have already received $12,121 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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