Quantcast

Chicago City Wire

Saturday, May 31, 2025

Former state university employee Hall paid in $29K to pension fund, could collect $520K in retirement

Money272

Former state university employee Pamela Hall, who retired in May 2016, saved $28,995 toward a pension over 16 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Hall would collect as much as $520,197, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Hall received $10,934 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Hall will have already received $33,796 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

MORE NEWS