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Kane County Reporter

Saturday, May 17, 2025

Former state university employee MacKay paid in $62K to pension fund, could collect $900K in retirement

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Former state university employee Gerald MacKay, who retired in August 2017, saved $61,614 toward a pension over 12 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, MacKay would collect as much as $899,974, according to a projection by Local Government Information Services (LGIS), which publishes Kane County Reporter.

The projection assumes MacKay received $18,916 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, MacKay will have already received $79,135 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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