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Chicago City Wire

Friday, April 26, 2024

Former state university employee Puga paid in $99K to pension fund, could collect $1.9M in retirement

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Former state university employee Ann Puga, who retired in February 2019, saved $98,804 toward a pension over 29 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Puga would collect as much as $1.9 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Puga received $39,876 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Puga will have already received $123,252 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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