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Chicago City Wire

Friday, May 23, 2025

Former state university employee Bogan paid in $70K to pension fund, could collect $1.56M in retirement

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Former state university employee Michelle Bogan, who retired in January 2016, saved $70,328 toward a pension over 30 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Bogan would collect as much as $1.56 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Bogan received $32,811 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Bogan will have already received $101,415 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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