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West Central Reporter

Friday, April 26, 2024

Former state university employee Eckerly paid in $94K to pension fund, could collect $1.76M in retirement

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Former state university employee David Eckerly, who retired in January 2016, saved $94,068 toward a pension over 25 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Eckerly would collect as much as $1.76 million, according to a projection by Local Government Information Services (LGIS), which publishes West Central Reporter.

The projection assumes Eckerly received $36,952 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Eckerly will have already received $114,216 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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