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Lake County Gazette

Sunday, June 29, 2025

Former state university employee Russell paid in $18K to pension fund, could collect $326K in retirement

Money 06

Former state university employee Gregory Russell, who retired in June 2018, saved $18,349 toward a pension over 8 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Russell would collect as much as $325,552, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Russell received $6,842 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Russell will have already received $21,147 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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