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Chicago City Wire

Wednesday, July 2, 2025

Former state university employee Beckett paid in $158K to pension fund, could collect $3.16M in retirement

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Former state university employee J. Steven Beckett, who retired in June 2016, saved $157,506 toward a pension over 20 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Beckett would collect as much as $3.16 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Beckett received $66,522 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Beckett will have already received $205,614 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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