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Chicago City Wire

Sunday, May 25, 2025

Former state university employee Brown paid in $53K to pension fund, could collect $1.59M in retirement

Money759

Former state university employee Edward Brown, who retired in October 2017, saved $52,536 toward a pension over 17 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Brown would collect as much as $1.59 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Brown received $33,442 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Brown will have already received $67,887 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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