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Dupage Policy Journal

Saturday, November 23, 2024

Former state university employee Lawler paid in $52K to pension fund, could collect $758K in retirement

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Former state university employee William Lawler, who retired in July 2016, saved $52,411 toward a pension over 7 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Lawler would collect as much as $758,024, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Lawler received $15,933 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Lawler will have already received $66,657 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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