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Sangamon Sun

Sunday, June 8, 2025

Former state university employee Hainaut paid in $9K to pension fund, could collect $431K in retirement

Money 08

Former state university employee Carolyn Hainaut, who retired in October 2017, saved $8,962 toward a pension over 8 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Hainaut would collect as much as $431,215, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Hainaut received $9,063 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Hainaut will have already received $9,063 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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