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West Central Reporter

Friday, April 19, 2024

Former state university employee Eckerly paid in $112K to pension fund, could collect $1.63M in retirement

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Former state university employee Judith Eckerly, who retired in July 2017, saved $112,232 toward a pension over 32 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Eckerly would collect as much as $1.63 million, according to a projection by Local Government Information Services (LGIS), which publishes West Central Reporter.

The projection assumes Eckerly received $34,347 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Eckerly will have already received $143,693 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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