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Chicago City Wire

Monday, July 7, 2025

Former state university employee Estes paid in $72K to pension fund, could collect $1.6M in retirement

Money 03

Former state university employee S. Estes, who retired in December 2018, saved $71,741 toward a pension over 28 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Estes would collect as much as $1.6 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Estes received $33,612 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Estes will have already received $103,891 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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