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Chicago City Wire

Saturday, August 2, 2025

Former state university employee Thomas paid in $35K to pension fund, could collect $517K in retirement

Money 06

Former state university employee Joyce Thomas, who retired in September 2018, saved $35,261 toward a pension over 11 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Thomas would collect as much as $517,239, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Thomas received $10,872 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Thomas will have already received $45,484 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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