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Lake County Gazette

Sunday, June 29, 2025

Former state university employee Michelini paid in $30K to pension fund, could collect $1.96M in retirement

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Former state university employee Mark Michelini, who retired in July 2016, saved $30,270 toward a pension over 6 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Michelini would collect as much as $1.96 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Michelini received $41,111 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Michelini will have already received $41,111 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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