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DeKalb Times

Sunday, June 22, 2025

Former state university employee Olson paid in $131K to pension fund, could collect $2.86M in retirement

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Former state university employee Grant Olson, who retired in September 2017, saved $130,682 toward a pension over 29 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Olson would collect as much as $2.86 million, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Olson received $60,082 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Olson will have already received $185,707 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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