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Chicago City Wire

Wednesday, August 6, 2025

Former state university employee Archey paid in $70K to pension fund, could collect $1.36M in retirement

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Former state university employee Franklin Archey, who retired in January 2018, saved $70,319 toward a pension over 28 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Archey would collect as much as $1.36 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Archey received $28,615 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Archey will have already received $88,445 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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