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Sangamon Sun

Saturday, October 25, 2025

Former state university employee Palmer paid in $74K to pension fund, could collect $1.57M in retirement

Money 05

Former state university employee Elaine Palmer, who retired in May 2018, saved $73,798 toward a pension over 27 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Palmer would collect as much as $1.57 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Palmer received $32,961 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Palmer will have already received $101,880 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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