Quantcast

Chicago City Wire

Thursday, July 31, 2025

Former state university employee Holm paid in $181K to pension fund, could collect $3.65M in retirement

Shutterstock 267646277

Former state university employee Richard Holm, who retired in January 2019, saved $181,363 toward a pension over 29 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Holm would collect as much as $3.65 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Holm received $76,752 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Holm will have already received $237,234 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

MORE NEWS