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Chambana Sun

Tuesday, April 29, 2025

Former state university employee Alt paid in $258K to pension fund, could collect $7.65M in retirement

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Former state university employee Gregory Alt, who retired in May 2017, saved $258,423 toward a pension over 29 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Alt would collect as much as $7.65 million, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Alt received $160,831 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Alt will have already received $326,487 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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