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Chicago City Wire

Wednesday, July 9, 2025

Former state university employee Sewell paid in $133K to pension fund, could collect $2.38M in retirement

Money041

Former state university employee Richard Sewell, who retired in August 2017, saved $133,133 toward a pension over 14 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Sewell would collect as much as $2.38 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Sewell received $50,125 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Sewell will have already received $154,932 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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