Quantcast

Chicago City Wire

Saturday, August 2, 2025

Former state university employee Strang paid in $4K to pension fund, could collect $321K in retirement

Money 06

Former state university employee Nancy Strang, who retired in July 2016, saved $3,790 toward a pension over 2 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Strang would collect as much as $321,259, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Strang received $6,752 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Strang will have already received $6,752 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

MORE NEWS