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Chicago City Wire

Saturday, May 24, 2025

Former state university employee Donovan paid in $184K to pension fund, could collect $7.64M in retirement

Money 04

Former state university employee Mark Donovan, who retired in April 2017, saved $183,636 toward a pension over 25 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Donovan would collect as much as $7.64 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Donovan received $160,671 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Donovan will have already received $326,162 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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