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Galesburg Reporter

Sunday, November 24, 2024

Former state university employee Blake paid in $80K to pension fund, could collect $1.04M in retirement

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Former state university employee Lisa Blake, who retired in May 2018, saved $79,784 toward a pension over 14 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Blake would collect as much as $1.04 million, according to a projection by Local Government Information Services (LGIS), which publishes Galesburg Reporter.

The projection assumes Blake received $21,899 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Blake will have already received $91,618 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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