Former state university employee Marks paid in $29K to pension fund, could collect $755K in retirement

By Local Labs News Service

May 1, 2018

Former state university employee Jackie Marks, who retired in April 2018, saved $28,714 toward a pension over 21 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Marks would collect as much as $755,136, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Marks received $15,872 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Marks will have already received $32,220 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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University of Illinois at Urbana Champaign

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