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Carbondale Reporter

Saturday, November 23, 2024

Former state university employee Pericak Spector paid in $109K to pension fund, could collect $4.32M in retirement

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Former state university employee K. Pericak Spector, who retired in June 2017, saved $108,836 toward a pension over 25 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Pericak Spector would collect as much as $4.32 million, according to a projection by Local Government Information Services (LGIS), which publishes Carbondale Reporter.

The projection assumes Pericak Spector received $90,727 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Pericak Spector will have already received $184,176 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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