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Chicago City Wire

Saturday, April 20, 2024

Former state university employee Hawk paid in $135K to pension fund, could collect $2.59M in retirement

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Former state university employee Christopher Hawk, who retired in September 2016, saved $135,360 toward a pension over 27 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Hawk would collect as much as $2.59 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Hawk received $54,522 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Hawk will have already received $168,523 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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