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Sangamon Sun

Monday, May 12, 2025

Former state university employee Horrell paid in $651 to pension fund, could collect $6K in retirement

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Former state university employee Stephen Horrell, who retired in October 2017, saved $651 toward a pension over 1 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Horrell would collect as much as $5,709, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Horrell received $120 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 6 years of retirement, Horrell will have already received $780 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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