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Chicago City Wire

Wednesday, April 24, 2024

Former state university employee Hawkins paid in $87K to pension fund, could collect $2.38M in retirement

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Former state university employee Trena Hawkins, who retired in July 2017, saved $87,107 toward a pension over 26 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Hawkins would collect as much as $2.38 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Hawkins received $50,024 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Hawkins will have already received $101,549 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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