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Chicago City Wire

Friday, June 6, 2025

Former state university employee Sharma paid in $61K to pension fund, could collect $1.14M in retirement

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Former state university employee Mohan Sharma, who retired in January 2019, saved $61,213 toward a pension over 20 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Sharma would collect as much as $1.14 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Sharma received $23,868 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Sharma will have already received $73,774 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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