Quantcast

South Cook News

Wednesday, November 12, 2025

Former state university employee Durkin paid in $6K to pension fund, could collect $98K in retirement

Shutterstock 197358977

Former state university employee Michael Durkin, who retired in February 2016, saved $6,004 toward a pension over 8 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Durkin would collect as much as $98,127, according to a projection by Local Government Information Services (LGIS), which publishes South Cook News.

The projection assumes Durkin received $2,062 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Durkin will have already received $6,374 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

MORE NEWS