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Sangamon Sun

Saturday, October 4, 2025

Former state university employee Sneed paid in $36K to pension fund, could collect $634K in retirement

Money041

Former state university employee Cheryl Sneed, who retired in July 2017, saved $36,492 toward a pension over 12 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Sneed would collect as much as $633,932, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Sneed received $13,324 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Sneed will have already received $41,184 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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