Quantcast

Will County Gazette

Friday, June 20, 2025

Former state university employee Cross paid in $122K to pension fund, could collect $3.4M in retirement

Shutterstock 373239541

Former state university employee Larry Cross, who retired in June 2017, saved $122,075 toward a pension over 23 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Cross would collect as much as $3.4 million, according to a projection by Local Government Information Services (LGIS), which publishes Will County Gazette.

The projection assumes Cross received $71,454 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Cross will have already received $145,052 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

ORGANIZATIONS IN THIS STORY

!RECEIVE ALERTS

The next time we write about any of these orgs, we’ll email you a link to the story. You may edit your settings or unsubscribe at any time.
Sign-up

DONATE

Help support the Metric Media Foundation's mission to restore community based news.
Donate

MORE NEWS