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Chicago City Wire

Saturday, May 24, 2025

Former state university employee Selway paid in $13K to pension fund, could collect $198K in retirement

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Former state university employee Michael Selway, who retired in March 2017, saved $12,681 toward a pension over 10 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Selway would collect as much as $197,869, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Selway received $4,159 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Selway will have already received $12,856 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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