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Lake County Gazette

Sunday, June 29, 2025

Former state university employee Mitchell paid in $209K to pension fund, could collect $4.19M in retirement

Money 02

Former state university employee Thomas Mitchell, who retired in January 2018, saved $208,969 toward a pension over 27 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Mitchell would collect as much as $4.19 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Mitchell received $88,141 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Mitchell will have already received $272,435 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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