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Dupage Policy Journal

Tuesday, November 19, 2024

Former state university employee Lecky paid in $75K to pension fund, could collect $1.57M in retirement

Money 05

Former state university employee Jeffrey Lecky, who retired in October 2017, saved $74,575 toward a pension over 28 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Lecky would collect as much as $1.57 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Lecky received $33,015 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Lecky will have already received $102,045 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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