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Macon Reporter

Wednesday, April 23, 2025

Former state university employee Hagan paid in $22K to pension fund, could collect $373K in retirement

Money 05

Former state university employee Jacqueline Hagan, who retired in July 2017, saved $22,400 toward a pension over 11 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Hagan would collect as much as $372,858, according to a projection by Local Government Information Services (LGIS), which publishes Macon Reporter.

The projection assumes Hagan received $7,837 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Hagan will have already received $24,223 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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