Quantcast

Sangamon Sun

Saturday, October 4, 2025

Former state university employee Garvey paid in $81K to pension fund, could collect $1.2M in retirement

Shutterstock 443523118

Former state university employee Hugh Garvey, who retired in May 2017, saved $81,222 toward a pension over 10 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Garvey would collect as much as $1.2 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Garvey received $25,271 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Garvey will have already received $105,724 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

MORE NEWS