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East Central Reporter

Thursday, November 7, 2024

Former state university employee Brockhouse paid in $4K to pension fund, could collect $62K in retirement

Money 03

Former state university employee Billy Brockhouse, who retired in April 2018, saved $3,679 toward a pension over 6 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Brockhouse would collect as much as $61,537, according to a projection by Local Government Information Services (LGIS), which publishes East Central Reporter.

The projection assumes Brockhouse received $1,293 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Brockhouse will have already received $3,997 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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