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McLean County Times

Tuesday, November 26, 2024

Former state university employee Jeakins paid in $50K to pension fund, could collect $856K in retirement

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Former state university employee Diane Jeakins, who retired in May 2016, saved $50,194 toward a pension over 19 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Jeakins would collect as much as $856,220, according to a projection by Local Government Information Services (LGIS), which publishes McLean County Times.

The projection assumes Jeakins received $17,997 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Jeakins will have already received $55,627 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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