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Chicago City Wire

Friday, April 11, 2025

Former state university employee Williams paid in $3K to pension fund, could collect $52K in retirement

Money 04

Former state university employee Marcia Williams, who retired in June 2016, saved $2,969 toward a pension over 9 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Williams would collect as much as $52,312, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Williams received $1,099 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Williams will have already received $3,397 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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