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Carbondale Reporter

Saturday, September 21, 2024

Former state university employee Huyck paid in $31K to pension fund, could collect $1.4M in retirement

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Former state university employee Teresa Huyck, who retired in July 2016, saved $30,598 toward a pension over 5 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Huyck would collect as much as $1.4 million, according to a projection by Local Government Information Services (LGIS), which publishes Carbondale Reporter.

The projection assumes Huyck received $29,362 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Huyck will have already received $59,605 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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