Quantcast

Chicago City Wire

Monday, July 14, 2025

Former state university employee Ocampo paid in $42K to pension fund, could collect $741K in retirement

Money 02

Former state university employee Carlos Ocampo, who retired in August 2016, saved $41,706 toward a pension over 20 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Ocampo would collect as much as $741,462, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Ocampo received $15,585 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Ocampo will have already received $48,173 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

MORE NEWS