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Chicago City Wire

Thursday, April 18, 2024

Former state university employee Waller paid in $96K to pension fund, could collect $2.31M in retirement

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Former state university employee Jill Waller, who retired in May 2018, saved $96,385 toward a pension over 32 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Waller would collect as much as $2.31 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Waller received $48,582 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Waller will have already received $98,621 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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