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Sangamon Sun

Wednesday, April 30, 2025

Former state university employee Hanahan paid in $160K to pension fund, could collect $3.26M in retirement

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Former state university employee Kathleen Hanahan, who retired in August 2018, saved $159,576 toward a pension over 28 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Hanahan would collect as much as $3.26 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Hanahan received $68,513 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Hanahan will have already received $211,766 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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