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Chicago City Wire

Monday, December 23, 2024

Former state university employee Pulliam paid in $57K to pension fund, could collect $1.18M in retirement

Money759

Former state university employee Shirley Pulliam, who retired in August 2016, saved $57,226 toward a pension over 25 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Pulliam would collect as much as $1.18 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Pulliam received $24,807 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Pulliam will have already received $76,676 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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