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Carbondale Reporter

Thursday, April 18, 2024

Former state university employee Walker paid in $137K to pension fund, could collect $3.27M in retirement

Money 08

Former state university employee Gregory Walker, who retired in June 2018, saved $136,866 toward a pension over 30 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Walker would collect as much as $3.27 million, according to a projection by Local Government Information Services (LGIS), which publishes Carbondale Reporter.

The projection assumes Walker received $68,746 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Walker will have already received $139,554 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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