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Sangamon Sun

Wednesday, July 23, 2025

Former state university employee Haywood paid in $97K to pension fund, could collect $2.35M in retirement

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Former state university employee Michael Haywood, who retired in January 2016, saved $96,751 toward a pension over 29 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Haywood would collect as much as $2.35 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Haywood received $49,370 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Haywood will have already received $100,221 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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