Chicago City Wire

Chicago City Wire

Saturday, October 19, 2019

Former state university employee Hasty paid in $128K to pension fund, could collect $2.5M in retirement

Schools

By Local Labs News Service | May 21, 2019


Former state university employee David Hasty, who retired in April 2019, saved $128,183 toward a pension over 28 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Hasty would collect as much as $2.5 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Hasty received $52,560 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Hasty will have already received $162,458 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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University of Illinois at Urbana Champaign

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