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Sangamon Sun

Sunday, June 8, 2025

Former state university employee Gilbert paid in $89K to pension fund, could collect $1.61M in retirement

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Former state university employee Fred Gilbert, who retired in August 2017, saved $88,571 toward a pension over 23 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Gilbert would collect as much as $1.61 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Gilbert received $33,836 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Gilbert will have already received $104,584 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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