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Chicago City Wire

Saturday, May 24, 2025

Former state university employee Garrett paid in $12K to pension fund, could collect $596K in retirement

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Former state university employee Laurie Garrett, who retired in April 2017, saved $12,074 toward a pension over 2 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Garrett would collect as much as $596,041, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Garrett received $12,528 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Garrett will have already received $12,528 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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