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Sangamon Sun

Wednesday, July 23, 2025

Former state university employee Gatton paid in $190K to pension fund, could collect $3.25M in retirement

Money 03

Former state university employee Philip Gatton, who retired in May 2016, saved $189,508 toward a pension over 19 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Gatton would collect as much as $3.25 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Gatton received $68,406 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Gatton will have already received $211,436 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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