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Chicago City Wire

Friday, May 23, 2025

Former state university employee Harding paid in $9K to pension fund, could collect $545K in retirement

Money759

Former state university employee Nolan Harding, who retired in February 2016, saved $8,697 toward a pension over 5 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Harding would collect as much as $545,328, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Harding received $11,462 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Harding will have already received $11,462 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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