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Chicago City Wire

Sunday, August 3, 2025

Former state university employee Keyes paid in $62K to pension fund, could collect $1.18M in retirement

Money 07

Former state university employee Jeff Keyes, who retired in January 2017, saved $61,947 toward a pension over 16 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Keyes would collect as much as $1.18 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Keyes received $24,795 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Keyes will have already received $76,639 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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