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Chicago City Wire

Friday, May 3, 2024

Former state university employee Brown paid in $89K to pension fund, could collect $2.32M in retirement

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Former state university employee Dorris Brown, who retired in January 2016, saved $89,402 toward a pension over 30 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Brown would collect as much as $2.32 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Brown received $48,812 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Brown will have already received $99,088 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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