Quantcast

Chicago City Wire

Friday, May 30, 2025

Former state university employee Connelly paid in $93K to pension fund, could collect $2M in retirement

Shutterstock 225154648

Former state university employee Shirley Connelly, who retired in May 2018, saved $93,117 toward a pension over 18 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Connelly would collect as much as $2 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Connelly received $42,108 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Connelly will have already received $130,151 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

MORE NEWS