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Metro East Sun

Saturday, April 20, 2024

Former state university employee Beck paid in $52K to pension fund, could collect $960K in retirement

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Former state university employee Jill Beck, who retired in February 2017, saved $52,204 toward a pension over 23 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Beck would collect as much as $960,187, according to a projection by Local Government Information Services (LGIS), which publishes Metro East Sun.

The projection assumes Beck received $20,182 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Beck will have already received $62,380 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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