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McLean County Times

Sunday, November 24, 2024

Former state university employee Hux paid in $53K to pension fund, could collect $1.01M in retirement

Money 07

Former state university employee Jacqueline Hux, who retired in August 2017, saved $52,543 toward a pension over 20 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Hux would collect as much as $1.01 million, according to a projection by Local Government Information Services (LGIS), which publishes McLean County Times.

The projection assumes Hux received $21,174 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Hux will have already received $65,446 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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