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Chicago City Wire

Wednesday, July 9, 2025

Former state university employee Lazarus paid in $189K to pension fund, could collect $5.81M in retirement

Money 04

Former state university employee Martin Lazarus, who retired in August 2017, saved $189,322 toward a pension over 12 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Lazarus would collect as much as $5.81 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Lazarus received $122,101 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Lazarus will have already received $247,865 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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