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Chicago City Wire

Friday, July 11, 2025

Former state university employee Pavone paid in $48K to pension fund, could collect $812K in retirement

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Former state university employee Ronald Pavone, who retired in September 2018, saved $47,962 toward a pension over 22 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Pavone would collect as much as $812,397, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Pavone received $17,076 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Pavone will have already received $52,780 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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