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Chambana Sun

Thursday, April 17, 2025

Former state university employee Johansen paid in $17K to pension fund, could collect $243K in retirement

Money 07

Former state university employee Nancy Johansen, who retired in January 2017, saved $16,619 toward a pension over 9 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Johansen would collect as much as $242,634, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Johansen received $5,100 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Johansen will have already received $21,337 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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