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South Cook News

Tuesday, April 29, 2025

Former state university employee Lee paid in $2K to pension fund, could collect $72K in retirement

Money759

Former state university employee Dawn Lee, who retired in May 2016, saved $1,624 toward a pension over 5 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Lee would collect as much as $72,196, according to a projection by Local Government Information Services (LGIS), which publishes South Cook News.

The projection assumes Lee received $1,517 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Lee will have already received $3,080 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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