Quantcast

Chicago City Wire

Wednesday, July 9, 2025

Former state university employee Stern paid in $99K to pension fund, could collect $1.68M in retirement

Shutterstock 225154648

Former state university employee Alexander Stern, who retired in August 2017, saved $98,944 toward a pension over 20 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Stern would collect as much as $1.68 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Stern received $35,355 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Stern will have already received $109,279 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

MORE NEWS