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Sangamon Sun

Sunday, July 20, 2025

Former state university employee Mitchell paid in $46K to pension fund, could collect $773K in retirement

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Former state university employee Steven Mitchell, who retired in May 2017, saved $46,406 toward a pension over 20 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Mitchell would collect as much as $773,125, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Mitchell received $16,250 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Mitchell will have already received $50,228 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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