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Sangamon Sun

Friday, September 12, 2025

Former state university employee Martin paid in $31K to pension fund, could collect $557K in retirement

Money 02

Former state university employee James Martin, who retired in March 2018, saved $31,284 toward a pension over 21 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Martin would collect as much as $557,363, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Martin received $11,715 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Martin will have already received $36,209 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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