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West Cook News

Saturday, May 24, 2025

Former state university employee Arvis paid in $1K to pension fund, could collect $24K in retirement

Money 04

Former state university employee Joann Arvis, who retired in June 2018, saved $1,095 toward a pension over 5 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Arvis would collect as much as $23,978, according to a projection by Local Government Information Services (LGIS), which publishes West Cook News.

The projection assumes Arvis received $504 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Arvis will have already received $1,558 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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