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McLean County Times

Friday, November 22, 2024

Former state university employee Bock paid in $6K to pension fund, could collect $78K in retirement

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Former state university employee Susan Bock, who retired in September 2016, saved $5,616 toward a pension over 5 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Bock would collect as much as $77,757, according to a projection by Local Government Information Services (LGIS), which publishes McLean County Times.

The projection assumes Bock received $1,634 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Bock will have already received $6,835 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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