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Sangamon Sun

Friday, October 10, 2025

Former state university employee Farwell paid in $50K to pension fund, could collect $987K in retirement

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Former state university employee Denise Farwell, who retired in June 2016, saved $50,138 toward a pension over 19 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Farwell would collect as much as $986,603, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Farwell received $20,737 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Farwell will have already received $64,096 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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