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Chicago City Wire

Saturday, August 2, 2025

Former state university employee Farner paid in $117K to pension fund, could collect $2.13M in retirement

Money 07

Former state university employee Susan Farner, who retired in June 2018, saved $116,947 toward a pension over 23 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Farner would collect as much as $2.13 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Farner received $44,698 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Farner will have already received $138,157 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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