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Chicago City Wire

Tuesday, July 8, 2025

Former state university employee Meares paid in $314K to pension fund, could collect $11.56M in retirement

Money 07

Former state university employee Paula Meares, who retired in January 2017, saved $313,559 toward a pension over 23 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Meares would collect as much as $11.56 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Meares received $243,042 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Meares will have already received $493,375 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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