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Chambana Sun

Monday, November 25, 2024

Former state university employee Walker paid in $122K to pension fund, could collect $2.47M in retirement

Money 05

Former state university employee Bradley Walker, who retired in July 2017, saved $122,413 toward a pension over 29 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Walker would collect as much as $2.47 million, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Walker received $51,965 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Walker will have already received $160,619 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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