Former state university employee Walker paid in $6K to pension fund, could collect $83K in retirement

Former state university employee Thomas Walker, who retired in December 2016, saved $5,868 toward a pension over 11 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Walker would collect as much as $82,804, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Walker received $1,740 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Walker will have already received $7,279 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.