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Sangamon Sun

Saturday, October 25, 2025

Former state university employee Eads paid in $78K to pension fund, could collect $1.76M in retirement

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Former state university employee Richard Eads, who retired in January 2018, saved $78,428 toward a pension over 20 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Eads would collect as much as $1.76 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Eads received $36,941 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Eads will have already received $114,180 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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