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Rockford Sun

Tuesday, April 29, 2025

Former state university employee Raymer paid in $73K to pension fund, could collect $2.32M in retirement

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Former state university employee Loren Raymer, who retired in September 2017, saved $73,466 toward a pension over 24 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Raymer would collect as much as $2.32 million, according to a projection by Local Government Information Services (LGIS), which publishes Rockford Sun.

The projection assumes Raymer received $48,688 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Raymer will have already received $98,837 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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