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North Cook News

Saturday, June 7, 2025

Former state university employee Vincent paid in $42K to pension fund, could collect $1.04M in retirement

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Former state university employee Arthur Vincent, who retired in August 2016, saved $41,720 toward a pension over 20 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Vincent would collect as much as $1.04 million, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.

The projection assumes Vincent received $21,782 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Vincent will have already received $44,217 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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