Quantcast

Sangamon Sun

Wednesday, June 4, 2025

Former state university employee Lacey paid in $7K to pension fund, could collect $43K in retirement

Shutterstock 450769633

Former state university employee Patricia Lacey, who retired in August 2017, saved $6,917 toward a pension over 6 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Lacey would collect as much as $42,817, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Lacey received $900 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 8 years of retirement, Lacey will have already received $8,006 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

MORE NEWS