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Chicago City Wire

Sunday, May 5, 2024

Former state university employee Starai paid in $69K to pension fund, could collect $880K in retirement

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Former state university employee Brian Starai, who retired in October 2017, saved $68,589 toward a pension over 20 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Starai would collect as much as $879,855, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Starai received $18,493 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Starai will have already received $77,368 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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