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Sangamon Sun

Wednesday, September 17, 2025

Former state university employee Ray paid in $108K to pension fund, could collect $2.46M in retirement

Money836

Former state university employee Mary Ray, who retired in June 2018, saved $108,005 toward a pension over 22 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Ray would collect as much as $2.46 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Ray received $51,640 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Ray will have already received $159,614 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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