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Chicago City Wire

Saturday, April 20, 2024

Former state university employee Wahler paid in $30K to pension fund, could collect $1.55M in retirement

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Former state university employee Gordon Wahler, who retired in December 2017, saved $29,598 toward a pension over 7 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Wahler would collect as much as $1.55 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Wahler received $32,628 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Wahler will have already received $32,628 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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