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Chicago City Wire

Friday, April 11, 2025

Former state university employee Florine paid in $87K to pension fund, could collect $1.5M in retirement

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Former state university employee Jane Florine, who retired in June 2016, saved $86,701 toward a pension over 20 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Florine would collect as much as $1.5 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Florine received $31,612 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Florine will have already received $97,709 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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