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Chambana Sun

Tuesday, April 29, 2025

Former state university employee Derango paid in $72K to pension fund, could collect $1.26M in retirement

Money 04

Former state university employee Teri Derango, who retired in January 2019, saved $72,303 toward a pension over 27 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Derango would collect as much as $1.26 million, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Derango received $26,580 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Derango will have already received $82,155 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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