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West Central Reporter

Saturday, May 17, 2025

Former state university employee Parks paid in $141K to pension fund, could collect $3.88M in retirement

Money 04

Former state university employee Brenda Parks, who retired in January 2016, saved $140,689 toward a pension over 32 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Parks would collect as much as $3.88 million, according to a projection by Local Government Information Services (LGIS), which publishes West Central Reporter.

The projection assumes Parks received $81,527 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Parks will have already received $165,500 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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