Galesburg Reporter

Former state university employee Julie Gibb, who retired in January 2018, saved $144,493 toward a pension over 32 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Gibb would collect as much as $4.03 million, according to a projection by Local Government Information Services (LGIS), which publishes Galesburg Reporter.

The projection assumes Gibb received $84,791 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Gibb will have already received $172,126 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.