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Sangamon Sun

Friday, July 4, 2025

Former state university employee Meyers paid in $21K to pension fund, could collect $317K in retirement

Money272

Former state university employee Janice Meyers, who retired in October 2016, saved $20,638 toward a pension over 10 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Meyers would collect as much as $317,137, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Meyers received $6,666 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Meyers will have already received $27,888 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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