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Chicago City Wire

Saturday, May 24, 2025

Former state university employee Hawthorne paid in $30K to pension fund, could collect $897K in retirement

Money 06

Former state university employee Michael Hawthorne, who retired in October 2016, saved $29,515 toward a pension over 12 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Hawthorne would collect as much as $897,102, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Hawthorne received $18,856 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Hawthorne will have already received $38,278 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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