Former state university employee Romack paid in $60K to pension fund, could collect $2.71M in retirement

By East Central Reporter Reports

Sep 1, 2018

Former state university employee John Romack, who retired in August 2018, saved $60,484 toward a pension over 29 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Romack would collect as much as $2.71 million, according to a projection by Local Government Information Services (LGIS), which publishes East Central Reporter.

The projection assumes Romack received $56,879 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Romack will have already received $115,464 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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