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Chicago City Wire

Saturday, May 24, 2025

Former state university employee Archer paid in $89K to pension fund, could collect $1.7M in retirement

Money 06

Former state university employee Saundra Archer, who retired in January 2017, saved $88,646 toward a pension over 20 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Archer would collect as much as $1.7 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Archer received $35,635 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Archer will have already received $110,144 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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