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North Cook News

Sunday, November 24, 2024

Former state university employee Euclide paid in $31K to pension fund, could collect $718K in retirement

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Former state university employee Roy Euclide, who retired in December 2016, saved $30,832 toward a pension over 20 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Euclide would collect as much as $718,278, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.

The projection assumes Euclide received $15,097 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Euclide will have already received $46,664 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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