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Dupage Policy Journal

Saturday, August 23, 2025

Former state university employee Stephenson paid in $80K to pension fund, could collect $1.85M in retirement

Money 01

Former state university employee Thomas Stephenson, who retired in March 2018, saved $80,220 toward a pension over 30 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Stephenson would collect as much as $1.85 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Stephenson received $38,898 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Stephenson will have already received $120,230 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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