Quantcast

Sangamon Sun

Monday, May 12, 2025

Former state university employee Holt paid in $199K to pension fund, could collect $4.86M in retirement

Shutterstock 233512279

Former state university employee Janet Holt, who retired in June 2017, saved $199,203 toward a pension over 33 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Holt would collect as much as $4.86 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Holt received $102,058 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Holt will have already received $207,178 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

MORE NEWS