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Chicago City Wire

Sunday, May 25, 2025

Former state university employee Freeman paid in $56K to pension fund, could collect $1.33M in retirement

Money 04

Former state university employee Alicia Freeman, who retired in July 2017, saved $55,502 toward a pension over 27 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Freeman would collect as much as $1.33 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Freeman received $27,874 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Freeman will have already received $56,584 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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