Quantcast

Lake County Gazette

Sunday, June 29, 2025

Former state university employee Reyes paid in $18K to pension fund, could collect $470K in retirement

Shutterstock 369740408

Former state university employee Francisco Reyes, who retired in January 2018, saved $18,434 toward a pension over 16 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Reyes would collect as much as $469,883, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Reyes received $9,876 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Reyes will have already received $20,048 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

MORE NEWS