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Chicago City Wire

Friday, April 26, 2024

Former state university employee Hauser paid in $457K to pension fund, could collect $12.51M in retirement

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Former state university employee Robert Hauser, who retired in January 2017, saved $456,641 toward a pension over 36 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Hauser would collect as much as $12.51 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Hauser received $263,026 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Hauser will have already received $533,943 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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