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West Central Reporter

Wednesday, April 24, 2024

Former state university employee Huff paid in $139K to pension fund, could collect $2.4M in retirement

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Former state university employee Douglas Huff, who retired in June 2018, saved $138,909 toward a pension over 22 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Huff would collect as much as $2.4 million, according to a projection by Local Government Information Services (LGIS), which publishes West Central Reporter.

The projection assumes Huff received $50,388 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Huff will have already received $155,745 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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