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Chicago City Wire

Friday, August 1, 2025

Former state university employee Steenbergen paid in $86K to pension fund, could collect $1.94M in retirement

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Former state university employee Susan Steenbergen, who retired in May 2016, saved $86,489 toward a pension over 27 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Steenbergen would collect as much as $1.94 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Steenbergen received $40,865 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Steenbergen will have already received $126,310 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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