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DeKalb Times

Sunday, November 17, 2024

Former state university employee Wilson Cook paid in $25K to pension fund, could collect $369K in retirement

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Former state university employee Janie Wilson Cook, who retired in June 2018, saved $25,315 toward a pension over 13 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Wilson Cook would collect as much as $369,329, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Wilson Cook received $7,763 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Wilson Cook will have already received $32,478 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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