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Chicago City Wire

Saturday, May 24, 2025

Former state university employee Aiello paid in $62K to pension fund, could collect $1.23M in retirement

Money759

Former state university employee Mona Aiello, who retired in March 2017, saved $62,453 toward a pension over 30 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Aiello would collect as much as $1.23 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Aiello received $25,887 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Aiello will have already received $80,015 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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