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DeKalb Times

Saturday, April 19, 2025

Former state university employee Olson paid in $43K to pension fund, could collect $796K in retirement

Money272

Former state university employee Patricia Olson, who retired in July 2016, saved $43,069 toward a pension over 15 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Olson would collect as much as $795,624, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Olson received $16,723 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Olson will have already received $51,690 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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