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Sangamon Sun

Saturday, April 19, 2025

Former state university employee Wolfe paid in $165K to pension fund, could collect $3.51M in retirement

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Former state university employee Mitchell Wolfe, who retired in January 2016, saved $164,774 toward a pension over 26 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Wolfe would collect as much as $3.51 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Wolfe received $73,720 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Wolfe will have already received $227,862 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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