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Chicago City Wire

Sunday, September 29, 2024

Former state university employee Harden paid in $175K to pension fund, could collect $4.14M in retirement

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Former state university employee Scott Harden, who retired in December 2016, saved $175,111 toward a pension over 30 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Harden would collect as much as $4.14 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Harden received $87,098 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Harden will have already received $176,809 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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