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Chicago City Wire

Friday, June 6, 2025

Former state university employee Bisevac paid in $206K to pension fund, could collect $3.01M in retirement

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Former state university employee Simeon Bisevac, who retired in January 2019, saved $205,730 toward a pension over 20 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Bisevac would collect as much as $3.01 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Bisevac received $63,348 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Bisevac will have already received $265,022 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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