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Chicago City Wire

Saturday, May 24, 2025

Former state university employee Cohen paid in $30K to pension fund, could collect $455K in retirement

Money 08

Former state university employee Elizabeth Cohen, who retired in September 2016, saved $29,926 toward a pension over 8 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Cohen would collect as much as $454,571, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Cohen received $9,554 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Cohen will have already received $39,971 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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