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Chicago City Wire

Friday, July 11, 2025

Former state university employee Cepeda paid in $3K to pension fund, could collect $71K in retirement

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Former state university employee Julio Cepeda, who retired in March 2016, saved $3,447 toward a pension over 5 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Cepeda would collect as much as $71,397, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Cepeda received $1,500 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Cepeda will have already received $4,636 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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