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Chambana Sun

Saturday, August 2, 2025

Former state university employee Lambert paid in $68K to pension fund, could collect $1.49M in retirement

Money 07

Former state university employee Colleen Lambert, who retired in July 2018, saved $68,011 toward a pension over 26 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Lambert would collect as much as $1.49 million, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Lambert received $31,395 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Lambert will have already received $97,039 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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