Quantcast

Chicago City Wire

Sunday, August 3, 2025

Former state university employee Gao paid in $54K to pension fund, could collect $1.45M in retirement

Shutterstock 373239541

Former state university employee Fang Gao, who retired in May 2018, saved $54,006 toward a pension over 21 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Gao would collect as much as $1.45 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Gao received $30,419 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Gao will have already received $61,751 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

MORE NEWS