West Central Reporter

Former state university employee George Beckman, who retired in January 2019, saved $45,344 toward a pension over 10 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Beckman would collect as much as $545,214, according to a projection by Local Government Information Services (LGIS), which publishes West Central Reporter.

The projection assumes Beckman received $11,460 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Beckman will have already received $47,945 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.