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Chicago City Wire

Sunday, May 25, 2025

Former state university employee Atkinson paid in $34K to pension fund, could collect $1.27M in retirement

Money759

Former state university employee Stephen Atkinson, who retired in August 2017, saved $33,873 toward a pension over 14 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Atkinson would collect as much as $1.27 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Atkinson received $26,664 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Atkinson will have already received $54,128 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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