Former state university employee Khan paid in $193K to pension fund, could collect $4.78M in retirement

By East Central Reporter Reports

Feb 1, 2016

Former state university employee Belayet Khan, who retired in January 2016, saved $193,054 toward a pension over 29 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Khan would collect as much as $4.78 million, according to a projection by Local Government Information Services (LGIS), which publishes East Central Reporter.

The projection assumes Khan received $100,381 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Khan will have already received $203,773 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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Eastern Illinois University

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