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Chicago City Wire

Saturday, May 24, 2025

Former state university employee Wisby paid in $22K to pension fund, could collect $328K in retirement

Money 07

Former state university employee Gary Wisby, who retired in April 2017, saved $21,528 toward a pension over 10 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Wisby would collect as much as $327,551, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Wisby received $6,884 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Wisby will have already received $28,802 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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