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Chicago City Wire

Wednesday, May 1, 2024

Former state university employee Lebron paid in $103K to pension fund, could collect $2.33M in retirement

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Former state university employee Carlos Lebron, who retired in January 2016, saved $102,598 toward a pension over 26 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Lebron would collect as much as $2.33 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Lebron received $49,063 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Lebron will have already received $151,649 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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