Former state university employee Nivens paid in $218K to pension fund, could collect $5.51M in retirement

By East Central Reporter Reports

Oct 1, 2017

Former state university employee Charles Nivens, who retired in September 2017, saved $218,480 toward a pension over 32 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Nivens would collect as much as $5.51 million, according to a projection by Local Government Information Services (LGIS), which publishes East Central Reporter.

The projection assumes Nivens received $115,866 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Nivens will have already received $235,208 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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