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Chambana Sun

Tuesday, April 29, 2025

Former state university employee Harper paid in $162K to pension fund, could collect $3.45M in retirement

Money 07

Former state university employee Timothy Harper, who retired in May 2016, saved $162,196 toward a pension over 25 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Harper would collect as much as $3.45 million, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Harper received $72,552 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Harper will have already received $224,252 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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