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Chicago City Wire

Friday, May 30, 2025

Former state university employee Little paid in $63K to pension fund, could collect $1.15M in retirement

Money 07

Former state university employee Terence Little, who retired in June 2018, saved $63,210 toward a pension over 20 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Little would collect as much as $1.15 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Little received $24,277 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Little will have already received $75,037 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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