Quantcast

Sangamon Sun

Wednesday, September 17, 2025

Former state university employee Gray paid in $3K to pension fund, could collect $357K in retirement

Money759

Former state university employee Thomas Gray, who retired in March 2016, saved $2,661 toward a pension over 2 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Gray would collect as much as $356,501, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Gray received $7,493 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Gray will have already received $7,493 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

MORE NEWS