West Central Reporter

West Central Reporter

Wednesday, November 20, 2019

Former state university employee Adkins paid in $187K to pension fund, could collect $4.43M in retirement

Schools

By Local Labs News Service | Feb 1, 2016

Money041

Former state university employee K. Adkins, who retired in January 2016, saved $187,143 toward a pension over 28 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Adkins would collect as much as $4.43 million, according to a projection by Local Government Information Services (LGIS), which publishes West Central Reporter.

The projection assumes Adkins received $93,122 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Adkins will have already received $189,038 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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