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Chicago City Wire

Wednesday, August 6, 2025

Former state university employee Scott paid in $62K to pension fund, could collect $950K in retirement

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Former state university employee Michael Scott, who retired in January 2018, saved $62,424 toward a pension over 10 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Scott would collect as much as $949,888, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Scott received $19,965 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Scott will have already received $83,526 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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