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Chambana Sun

Monday, July 21, 2025

Former state university employee Martin paid in $24K to pension fund, could collect $344K in retirement

Money 01

Former state university employee Karen Martin, who retired in August 2018, saved $24,082 toward a pension over 9 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Martin would collect as much as $344,404, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Martin received $7,239 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Martin will have already received $30,285 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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