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Chambana Sun

Monday, April 28, 2025

Former state university employee Lewis paid in $120K to pension fund, could collect $2.55M in retirement

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Former state university employee Ralph Lewis, who retired in January 2016, saved $119,604 toward a pension over 28 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Lewis would collect as much as $2.55 million, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Lewis received $53,508 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Lewis will have already received $165,387 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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