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Chicago City Wire

Monday, June 30, 2025

Former state university employee Martinez paid in $72K to pension fund, could collect $1.47M in retirement

Money 06

Former state university employee Jesus Martinez, who retired in November 2016, saved $72,312 toward a pension over 21 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Martinez would collect as much as $1.47 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Martinez received $30,991 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Martinez will have already received $95,791 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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