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Chicago City Wire

Thursday, December 26, 2024

Former state university employee Beck paid in $11K to pension fund, could collect $335K in retirement

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Former state university employee Donna Beck, who retired in November 2016, saved $10,807 toward a pension over 15 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Beck would collect as much as $334,544, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Beck received $7,031 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Beck will have already received $14,273 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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