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DeKalb Times

Saturday, May 10, 2025

Former state university employee Lyons paid in $65K to pension fund, could collect $1.41M in retirement

Money 01

Former state university employee Laverna Lyons, who retired in January 2016, saved $64,925 toward a pension over 27 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Lyons would collect as much as $1.41 million, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Lyons received $29,559 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Lyons will have already received $91,364 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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