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Lake County Gazette

Sunday, June 29, 2025

Former state university employee Schlappi paid in $42K to pension fund, could collect $667K in retirement

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Former state university employee Cecil Schlappi, who retired in March 2018, saved $41,725 toward a pension over 14 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Schlappi would collect as much as $667,496, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Schlappi received $14,030 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Schlappi will have already received $43,366 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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