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West Cook News

Wednesday, May 8, 2024

Former state university employee Skimin paid in $15K to pension fund, could collect $260K in retirement

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Former state university employee Candyce Skimin, who retired in November 2018, saved $14,864 toward a pension over 20 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Skimin would collect as much as $259,761, according to a projection by Local Government Information Services (LGIS), which publishes West Cook News.

The projection assumes Skimin received $5,460 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Skimin will have already received $16,877 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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