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Sangamon Sun

Friday, July 4, 2025

Former state university employee Niwa paid in $15K to pension fund, could collect $225K in retirement

Money 08

Former state university employee Karen Niwa, who retired in April 2016, saved $15,086 toward a pension over 9 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Niwa would collect as much as $224,588, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Niwa received $4,720 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Niwa will have already received $19,748 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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