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Sangamon Sun

Tuesday, May 13, 2025

Former state university employee Dempsey paid in $6K to pension fund, could collect $482K in retirement

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Former state university employee Margaret Dempsey, who retired in June 2016, saved $6,219 toward a pension over 8 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Dempsey would collect as much as $481,798, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Dempsey received $10,127 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Dempsey will have already received $10,127 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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