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Lake County Gazette

Sunday, June 29, 2025

Former state university employee Allen paid in $152K to pension fund, could collect $2.85M in retirement

Money 05

Former state university employee M. Scott Allen, who retired in January 2018, saved $152,279 toward a pension over 19 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Allen would collect as much as $2.85 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Allen received $59,855 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Allen will have already received $185,007 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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