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Chicago City Wire

Thursday, July 31, 2025

Former state university employee Henager paid in $30K to pension fund, could collect $481K in retirement

Money041

Former state university employee Stephen Henager, who retired in March 2016, saved $30,491 toward a pension over 8 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Henager would collect as much as $481,067, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Henager received $10,111 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Henager will have already received $31,251 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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