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Chambana Sun

Monday, August 4, 2025

Former state university employee Bass paid in $366K to pension fund, could collect $8.4M in retirement

Money 07

Former state university employee Jay Bass, who retired in January 2019, saved $365,961 toward a pension over 34 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Bass would collect as much as $8.4 million, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Bass received $176,484 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Bass will have already received $545,495 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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