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Sangamon Sun

Wednesday, November 5, 2025

Former state university employee Pickett paid in $43K to pension fund, could collect $806K in retirement

Money 02

Former state university employee Lorita Pickett, who retired in January 2018, saved $42,732 toward a pension over 24 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Pickett would collect as much as $806,134, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Pickett received $16,944 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Pickett will have already received $52,372 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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