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Galesburg Reporter

Monday, May 19, 2025

Former state university employee Park paid in $26K to pension fund, could collect $331K in retirement

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Former state university employee Rose Park, who retired in January 2016, saved $25,832 toward a pension over 15 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Park would collect as much as $330,867, according to a projection by Local Government Information Services (LGIS), which publishes Galesburg Reporter.

The projection assumes Park received $6,954 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Park will have already received $29,094 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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