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Sangamon Sun

Monday, May 12, 2025

Former state university employee Howard paid in $21K to pension fund, could collect $244K in retirement

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Former state university employee Stacey Howard, who retired in September 2017, saved $21,340 toward a pension over 8 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Howard would collect as much as $243,525, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Howard received $5,118 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Howard will have already received $21,413 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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