Quantcast

Chicago City Wire

Wednesday, July 9, 2025

Former state university employee Garber paid in $59K to pension fund, could collect $1.19M in retirement

Money759

Former state university employee Janet Garber, who retired in October 2017, saved $58,872 toward a pension over 26 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Garber would collect as much as $1.19 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Garber received $25,105 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Garber will have already received $77,597 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

MORE NEWS