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Sangamon Sun

Wednesday, July 30, 2025

Former state university employee Lollino paid in $110K to pension fund, could collect $2.13M in retirement

Money 07

Former state university employee Steven Lollino, who retired in February 2019, saved $110,422 toward a pension over 30 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Lollino would collect as much as $2.13 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Lollino received $44,784 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Lollino will have already received $138,424 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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