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Sangamon Sun

Monday, July 21, 2025

Former state university employee Raney paid in $84K to pension fund, could collect $1.6M in retirement

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Former state university employee Gina Raney, who retired in May 2017, saved $83,671 toward a pension over 30 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Raney would collect as much as $1.6 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Raney received $33,577 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Raney will have already received $103,783 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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