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Chambana Sun

Tuesday, April 29, 2025

Former state university employee Irvin paid in $3K to pension fund, could collect $70K in retirement

Money 01

Former state university employee Lynn Irvin, who retired in June 2018, saved $2,511 toward a pension over 2 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Irvin would collect as much as $70,221, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Irvin received $1,476 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Irvin will have already received $2,996 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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