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Chicago City Wire

Monday, June 2, 2025

Former state university employee Nazy paid in $66K to pension fund, could collect $1.04M in retirement

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Former state university employee James Nazy, who retired in February 2019, saved $66,317 toward a pension over 23 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Nazy would collect as much as $1.04 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Nazy received $21,888 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Nazy will have already received $67,654 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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