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West Central Reporter

Wednesday, April 16, 2025

Former state university employee Hattaway paid in $50K to pension fund, could collect $1.02M in retirement

Money 02

Former state university employee Joseph Hattaway, who retired in January 2016, saved $49,751 toward a pension over 26 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Hattaway would collect as much as $1.02 million, according to a projection by Local Government Information Services (LGIS), which publishes West Central Reporter.

The projection assumes Hattaway received $21,540 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Hattaway will have already received $66,578 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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