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North Cook News

Friday, July 25, 2025

Former state university employee Petrie paid in $15K to pension fund, could collect $225K in retirement

Money 03

Former state university employee Rita Petrie, who retired in March 2016, saved $15,233 toward a pension over 7 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Petrie would collect as much as $225,347, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.

The projection assumes Petrie received $4,736 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Petrie will have already received $19,813 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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