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Chicago City Wire

Saturday, May 24, 2025

Former state university employee Thomas paid in $61K to pension fund, could collect $1.17M in retirement

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Former state university employee Kelvin Thomas, who retired in April 2017, saved $61,134 toward a pension over 23 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Thomas would collect as much as $1.17 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Thomas received $24,651 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Thomas will have already received $76,195 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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