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Chambana Sun

Wednesday, April 24, 2024

Former state university employee Wilcock paid in $65K to pension fund, could collect $1.58M in retirement

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Former state university employee Christopher Wilcock, who retired in January 2016, saved $65,274 toward a pension over 27 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Wilcock would collect as much as $1.58 million, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Wilcock received $33,236 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Wilcock will have already received $67,469 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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