South Central Reporter

Former state university employee Lavern Holtgrave, who retired in June 2016, saved $13,422 toward a pension over 8 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Holtgrave would collect as much as $198,018, according to a projection by Local Government Information Services (LGIS), which publishes South Central Reporter.

The projection assumes Holtgrave received $4,162 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Holtgrave will have already received $17,413 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.