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East Central Reporter

Friday, October 3, 2025

Former state university employee Martino paid in $60K to pension fund, could collect $1.23M in retirement

Money759

Former state university employee Alexander Martino, who retired in June 2016, saved $59,597 toward a pension over 20 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Martino would collect as much as $1.23 million, according to a projection by Local Government Information Services (LGIS), which publishes East Central Reporter.

The projection assumes Martino received $25,935 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Martino will have already received $80,162 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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