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Chambana Sun

Tuesday, April 29, 2025

Former state university employee Harvey paid in $31K to pension fund, could collect $479K in retirement

Money 06

Former state university employee Sandra Harvey, who retired in June 2018, saved $31,447 toward a pension over 10 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Harvey would collect as much as $479,480, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Harvey received $10,078 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Harvey will have already received $42,161 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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