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Sangamon Sun

Sunday, July 20, 2025

Former state university employee Gallagher paid in $39K to pension fund, could collect $577K in retirement

Money759

Former state university employee Patricia Gallagher, who retired in July 2018, saved $38,681 toward a pension over 12 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Gallagher would collect as much as $576,631, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Gallagher received $12,120 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Gallagher will have already received $50,708 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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