Quantcast

Chambana Sun

Monday, April 28, 2025

Former state university employee Lockenour paid in $115K to pension fund, could collect $2.4M in retirement

Shutterstock 373239541

Former state university employee Rene Lockenour, who retired in January 2016, saved $115,002 toward a pension over 27 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Lockenour would collect as much as $2.4 million, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Lockenour received $50,426 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Lockenour will have already received $155,862 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

MORE NEWS