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Chicago City Wire

Friday, May 2, 2025

Former state university employee Zhang paid in $122K to pension fund, could collect $2.3M in retirement

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Former state university employee Qin Zhang, who retired in February 2016, saved $121,541 toward a pension over 19 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Zhang would collect as much as $2.3 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Zhang received $48,385 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Zhang will have already received $149,554 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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