Quantcast

Chicago City Wire

Monday, July 7, 2025

Former state university employee O'Leary paid in $52K to pension fund, could collect $1.81M in retirement

Shutterstock 381111379

Former state university employee Patrick O'Leary, who retired in August 2016, saved $51,502 toward a pension over 8 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, O'Leary would collect as much as $1.81 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes O'Leary received $38,034 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, O'Leary will have already received $77,209 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

MORE NEWS