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Chicago City Wire

Saturday, August 2, 2025

Former state university employee Wright paid in $187K to pension fund, could collect $4.47M in retirement

Money041

Former state university employee Charles Wright, who retired in June 2018, saved $186,673 toward a pension over 33 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Wright would collect as much as $4.47 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Wright received $93,864 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Wright will have already received $190,544 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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