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South Cook News

Saturday, October 4, 2025

Former state university employee Schlueter paid in $5K to pension fund, could collect $76K in retirement

Money 08

Former state university employee Charles Schlueter, who retired in January 2017, saved $5,492 toward a pension over 8 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Schlueter would collect as much as $76,358, according to a projection by Local Government Information Services (LGIS), which publishes South Cook News.

The projection assumes Schlueter received $1,605 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Schlueter will have already received $6,715 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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