Quantcast

Chicago City Wire

Saturday, October 4, 2025

Former state university employee Richey paid in $20K to pension fund, could collect $432K in retirement

Money 06

Former state university employee Barbara Richey, who retired in January 2017, saved $20,248 toward a pension over 10 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Richey would collect as much as $431,792, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Richey received $9,075 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Richey will have already received $28,049 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

MORE NEWS