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Chicago City Wire

Wednesday, July 2, 2025

Former state university employee Francis paid in $48K to pension fund, could collect $4.19M in retirement

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Former state university employee George Francis, who retired in June 2016, saved $48,458 toward a pension over 14 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Francis would collect as much as $4.19 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Francis received $88,042 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Francis will have already received $88,042 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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