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Chicago City Wire

Wednesday, April 24, 2024

Former state university employee Campbell paid in $80K to pension fund, could collect $1.78M in retirement

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Former state university employee Michelle Campbell, who retired in October 2017, saved $79,558 toward a pension over 30 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Campbell would collect as much as $1.78 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Campbell received $37,323 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Campbell will have already received $115,362 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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