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Chambana Sun

Tuesday, August 5, 2025

Former state university employee Holloway paid in $57K to pension fund, could collect $1.38M in retirement

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Former state university employee Sandra Holloway, who retired in May 2018, saved $57,024 toward a pension over 30 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Holloway would collect as much as $1.38 million, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Holloway received $28,935 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Holloway will have already received $58,738 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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