Quantcast

Chicago City Wire

Monday, July 7, 2025

Former state university employee Grasley paid in $5K to pension fund, could collect $84K in retirement

Money 06

Former state university employee Carol Grasley, who retired in July 2016, saved $5,432 toward a pension over 2 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Grasley would collect as much as $84,014, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Grasley received $1,765 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Grasley will have already received $5,456 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

MORE NEWS