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Chicago City Wire

Monday, July 7, 2025

Former state university employee Ruffolo paid in $5K to pension fund, could collect $176K in retirement

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Former state university employee Paul Ruffolo, who retired in January 2019, saved $4,883 toward a pension over 10 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Ruffolo would collect as much as $176,409, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Ruffolo received $3,708 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Ruffolo will have already received $7,527 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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