Quantcast

Chambana Sun

Tuesday, April 29, 2025

Former state university employee Groves paid in $190K to pension fund, could collect $1.86M in retirement

Shutterstock 443523118

Former state university employee Doris Groves, who retired in March 2018, saved $190,193 toward a pension over 18 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Groves would collect as much as $1.86 million, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Groves received $39,055 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 5 years of retirement, Groves will have already received $207,350 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

MORE NEWS