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Sangamon Sun

Monday, July 21, 2025

Former state university employee Hastings paid in $23K to pension fund, could collect $334K in retirement

Money 04

Former state university employee Elizabeth Hastings, who retired in February 2017, saved $22,682 toward a pension over 10 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Hastings would collect as much as $333,956, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Hastings received $7,019 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Hastings will have already received $29,366 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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