Quantcast

Chicago City Wire

Wednesday, July 9, 2025

Former state university employee McClary paid in $47K to pension fund, could collect $993K in retirement

Shutterstock 225154648

Former state university employee Paulette McClary, who retired in August 2017, saved $46,850 toward a pension over 20 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, McClary would collect as much as $992,860, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes McClary received $20,869 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, McClary will have already received $64,504 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

MORE NEWS