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Chambana Sun

Thursday, April 17, 2025

Former state university employee Nelson paid in $60K to pension fund, could collect $2.03M in retirement

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Former state university employee Marva Nelson, who retired in May 2017, saved $59,624 toward a pension over 24 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Nelson would collect as much as $2.03 million, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Nelson received $42,598 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Nelson will have already received $86,474 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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