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Chicago City Wire

Wednesday, July 9, 2025

Former state university employee Lambert paid in $47K to pension fund, could collect $1.07M in retirement

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Former state university employee Carl Lambert, who retired in August 2017, saved $46,595 toward a pension over 24 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Lambert would collect as much as $1.07 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Lambert received $22,554 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Lambert will have already received $69,713 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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