Former state university employee Jaynes paid in $168K to pension fund, could collect $4.21M in retirement

Former state university employee Beatrice Jaynes, who retired in September 2018, saved $167,735 toward a pension over 25 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Jaynes would collect as much as $4.21 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Jaynes received $88,528 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Jaynes will have already received $179,712 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.