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Chicago City Wire

Tuesday, July 29, 2025

Former state university employee Jackson paid in $12K to pension fund, could collect $250K in retirement

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Former state university employee Michael Jackson, who retired in January 2016, saved $12,231 toward a pension over 10 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Jackson would collect as much as $249,947, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Jackson received $5,253 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Jackson will have already received $16,237 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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