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Chicago City Wire

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Former state university employee De Bros paid in $70K to pension fund, could collect $1.67M in retirement

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By Local Labs News Service | Feb 1, 2016

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Former state university employee Mary De Bros, who retired in January 2016, saved $69,852 toward a pension over 28 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, De Bros would collect as much as $1.67 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes De Bros received $35,020 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, De Bros will have already received $71,091 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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