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Chicago City Wire

Sunday, August 3, 2025

Former state university employee Harmon paid in $84K to pension fund, could collect $2.1M in retirement

Money759

Former state university employee Susan Harmon, who retired in January 2017, saved $84,457 toward a pension over 31 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Harmon would collect as much as $2.1 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Harmon received $44,088 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Harmon will have already received $89,499 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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