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Chicago City Wire

Sunday, May 5, 2024

Former state university employee Bohr paid in $109K to pension fund, could collect $2.61M in retirement

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Former state university employee Louise Bohr, who retired in September 2017, saved $108,976 toward a pension over 24 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Bohr would collect as much as $2.61 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Bohr received $54,805 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Bohr will have already received $111,254 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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