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Chambana Sun

Tuesday, April 29, 2025

Former state university employee Larkin paid in $87K to pension fund, could collect $1.52M in retirement

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Former state university employee Susan Larkin, who retired in June 2018, saved $86,512 toward a pension over 22 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Larkin would collect as much as $1.52 million, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Larkin received $32,049 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Larkin will have already received $99,059 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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