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Sangamon Sun

Sunday, May 18, 2025

Former state university employee Andrews paid in $67K to pension fund, could collect $1.58M in retirement

Money836

Former state university employee Nancy Andrews, who retired in May 2017, saved $67,261 toward a pension over 30 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Andrews would collect as much as $1.58 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Andrews received $33,263 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Andrews will have already received $67,524 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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