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Carbondale Reporter

Thursday, October 2, 2025

Former state university employee Burks paid in $44K to pension fund, could collect $642K in retirement

Money 02

Former state university employee Richard Burks, who retired in January 2019, saved $43,599 toward a pension over 14 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Burks would collect as much as $642,268, according to a projection by Local Government Information Services (LGIS), which publishes Carbondale Reporter.

The projection assumes Burks received $13,500 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Burks will have already received $56,479 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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