Quantcast

Lake County Gazette

Sunday, June 29, 2025

Former state university employee Peters paid in $15K to pension fund, could collect $486K in retirement

Money 01

Former state university employee Deborah Peters, who retired in June 2016, saved $14,567 toward a pension over 7 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Peters would collect as much as $485,942, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Peters received $10,214 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Peters will have already received $20,734 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

MORE NEWS