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Chicago City Wire

Friday, August 1, 2025

Former state university employee Long paid in $71K to pension fund, could collect $824K in retirement

Money272

Former state university employee Cheryl Long, who retired in December 2018, saved $71,439 toward a pension over 20 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Long would collect as much as $823,815, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Long received $17,316 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Long will have already received $72,442 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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