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Chicago City Wire

Thursday, April 18, 2024

Former state university employee Hall paid in $96K to pension fund, could collect $2.48M in retirement

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Former state university employee Kelly Hall, who retired in December 2017, saved $96,461 toward a pension over 30 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Hall would collect as much as $2.48 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Hall received $52,061 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Hall will have already received $105,684 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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