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Sangamon Sun

Wednesday, July 23, 2025

Former state university employee Wright paid in $24K to pension fund, could collect $1.11M in retirement

Money 04

Former state university employee Larry Wright, who retired in July 2016, saved $24,054 toward a pension over 15 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Wright would collect as much as $1.11 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Wright received $23,306 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Wright will have already received $47,311 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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