Quantcast

Chambana Sun

Tuesday, April 29, 2025

Former state university employee Kennedy paid in $68K to pension fund, could collect $1.68M in retirement

Shutterstock 385535740

Former state university employee Laura Kennedy, who retired in June 2018, saved $68,110 toward a pension over 32 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Kennedy would collect as much as $1.68 million, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Kennedy received $35,287 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Kennedy will have already received $71,633 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

MORE NEWS