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Chicago City Wire

Monday, June 2, 2025

Former state university employee Maley paid in $140K to pension fund, could collect $2.96M in retirement

Money041

Former state university employee Kevin Maley, who retired in September 2018, saved $140,097 toward a pension over 33 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Maley would collect as much as $2.96 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Maley received $62,280 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Maley will have already received $192,500 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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