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Sangamon Sun

Saturday, July 19, 2025

Former state university employee Swee paid in $110K to pension fund, could collect $4.09M in retirement

Money 03

Former state university employee Gary Swee, who retired in April 2018, saved $110,091 toward a pension over 29 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Swee would collect as much as $4.09 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Swee received $85,940 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Swee will have already received $174,458 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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