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Chicago City Wire

Friday, July 4, 2025

Former state university employee Preston paid in $80K to pension fund, could collect $1.4M in retirement

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Former state university employee Maria Preston, who retired in June 2018, saved $79,936 toward a pension over 14 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Preston would collect as much as $1.4 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Preston received $29,331 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Preston will have already received $90,659 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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