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Chambana Sun

Monday, August 4, 2025

Former state university employee McLaren paid in $128K to pension fund, could collect $1.67M in retirement

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Former state university employee Terrence McLaren, who retired in January 2019, saved $128,062 toward a pension over 21 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, McLaren would collect as much as $1.67 million, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes McLaren received $35,052 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, McLaren will have already received $146,646 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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