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Lake County Gazette

Sunday, June 29, 2025

Former state university employee Garrett paid in $6K to pension fund, could collect $82K in retirement

Money 01

Former state university employee Karen Garrett, who retired in March 2016, saved $5,794 toward a pension over 9 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Garrett would collect as much as $81,525, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Garrett received $1,713 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Garrett will have already received $7,166 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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