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Chicago City Wire

Monday, December 23, 2024

Former state university employee Mlakar paid in $75K to pension fund, could collect $1.55M in retirement

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Former state university employee Jasna Mlakar, who retired in August 2016, saved $75,272 toward a pension over 23 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Mlakar would collect as much as $1.55 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Mlakar received $32,674 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Mlakar will have already received $100,992 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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