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Chicago City Wire

Wednesday, August 6, 2025

Former state university employee Mulhall paid in $178K to pension fund, could collect $3.43M in retirement

Money 05

Former state university employee Peter Mulhall, who retired in January 2018, saved $177,974 toward a pension over 32 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Mulhall would collect as much as $3.43 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Mulhall received $71,995 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Mulhall will have already received $222,530 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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