Quantcast

Dupage Policy Journal

Saturday, August 23, 2025

Former state university employee Shaffer paid in $4K to pension fund, could collect $302K in retirement

Money759

Former state university employee Shawn Shaffer, who retired in September 2017, saved $3,778 toward a pension over 3 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Shaffer would collect as much as $302,237, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Shaffer received $6,352 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Shaffer will have already received $6,352 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

MORE NEWS