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Chicago City Wire

Wednesday, July 16, 2025

Former state university employee Ruiz paid in $173K to pension fund, could collect $4.96M in retirement

Money759

Former state university employee Olga Ruiz, who retired in August 2018, saved $172,833 toward a pension over 32 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Ruiz would collect as much as $4.96 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Ruiz received $104,287 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Ruiz will have already received $211,703 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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