Quantcast

Chicago City Wire

Friday, May 23, 2025

Former state university employee Williams paid in $123K to pension fund, could collect $3.28M in retirement

Money 05

Former state university employee Alan Williams, who retired in January 2016, saved $122,813 toward a pension over 30 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Williams would collect as much as $3.28 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Williams received $68,905 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Williams will have already received $139,877 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

MORE NEWS