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Chicago City Wire

Wednesday, April 24, 2024

Former state university employee Reyes paid in $16K to pension fund, could collect $531K in retirement

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Former state university employee Mirna Reyes, who retired in October 2018, saved $15,831 toward a pension over 13 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Reyes would collect as much as $530,941, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Reyes received $11,160 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Reyes will have already received $22,655 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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