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Chicago City Wire

Friday, July 4, 2025

Former state university employee Stein paid in $24K to pension fund, could collect $696K in retirement

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Former state university employee Lowell Stein, who retired in June 2016, saved $24,130 toward a pension over 24 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Stein would collect as much as $695,596, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Stein received $14,620 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Stein will have already received $29,679 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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