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Lake County Gazette

Sunday, June 29, 2025

Former state university employee Ray paid in $13K to pension fund, could collect $262K in retirement

Money 08

Former state university employee Christopher Ray, who retired in June 2017, saved $12,765 toward a pension over 20 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Ray would collect as much as $262,479, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Ray received $5,517 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Ray will have already received $17,053 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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