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Chicago City Wire

Saturday, October 4, 2025

Former state university employee Lee paid in $42K to pension fund, could collect $778K in retirement

Money 04

Former state university employee Billie Lee, who retired in February 2018, saved $41,587 toward a pension over 17 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Lee would collect as much as $777,532, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Lee received $16,343 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Lee will have already received $50,514 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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