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Sangamon Sun

Wednesday, July 30, 2025

Former state university employee O'Connor paid in $16K to pension fund, could collect $238K in retirement

Money759

Former state university employee Stephen O'Connor, who retired in August 2017, saved $15,943 toward a pension over 6 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, O'Connor would collect as much as $237,513, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes O'Connor received $4,992 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, O'Connor will have already received $20,885 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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