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Will County Gazette

Thursday, April 25, 2024

Former state university employee Senu Oke paid in $183K to pension fund, could collect $3.57M in retirement

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Former state university employee Edward Senu Oke, who retired in January 2019, saved $183,260 toward a pension over 27 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Senu Oke would collect as much as $3.57 million, according to a projection by Local Government Information Services (LGIS), which publishes Will County Gazette.

The projection assumes Senu Oke received $74,988 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Senu Oke will have already received $231,781 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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