Former state university employee Akers paid in $167K to pension fund, could collect $2.96M in retirement

By East Central Reporter Reports

Aug 1, 2018

Former state university employee Thomas Akers, who retired in July 2018, saved $166,548 toward a pension over 32 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Akers would collect as much as $2.96 million, according to a projection by Local Government Information Services (LGIS), which publishes East Central Reporter.

The projection assumes Akers received $62,124 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Akers will have already received $192,020 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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