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Lake County Gazette

Sunday, June 29, 2025

Former state university employee Sprague paid in $24K to pension fund, could collect $403K in retirement

Money 05

Former state university employee Michael Sprague, who retired in January 2018, saved $24,411 toward a pension over 17 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Sprague would collect as much as $402,550, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Sprague received $8,461 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Sprague will have already received $26,152 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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