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Chicago City Wire

Friday, April 11, 2025

Former state university employee Muhammad paid in $24K to pension fund, could collect $307K in retirement

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Former state university employee Farid Muhammad, who retired in June 2016, saved $24,363 toward a pension over 12 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Muhammad would collect as much as $306,952, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Muhammad received $6,451 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Muhammad will have already received $26,989 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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