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Chicago City Wire

Friday, May 23, 2025

Former state university employee Stafford paid in $26K to pension fund, could collect $524K in retirement

Money041

Former state university employee Patricia Stafford, who retired in June 2016, saved $26,423 toward a pension over 5 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Stafford would collect as much as $523,651, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Stafford received $11,006 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Stafford will have already received $34,018 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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