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Kane County Reporter

Sunday, September 29, 2024

Former state university employee Jeffries paid in $15K to pension fund, could collect $246K in retirement

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Former state university employee Barbara Jeffries, who retired in May 2016, saved $15,411 toward a pension over 11 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Jeffries would collect as much as $245,985, according to a projection by Local Government Information Services (LGIS), which publishes Kane County Reporter.

The projection assumes Jeffries received $5,170 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Jeffries will have already received $15,980 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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