Quantcast

Chicago City Wire

Monday, November 4, 2024

Former state university employee Harrison paid in $80K to pension fund, could collect $1.52M in retirement

Shutterstock 385535740

Former state university employee Christopher Harrison, who retired in April 2019, saved $79,630 toward a pension over 30 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Harrison would collect as much as $1.52 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Harrison received $31,968 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Harrison will have already received $98,810 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

ORGANIZATIONS IN THIS STORY

!RECEIVE ALERTS

The next time we write about any of these orgs, we’ll email you a link to the story. You may edit your settings or unsubscribe at any time.
Sign-up

DONATE

Help support the Metric Media Foundation's mission to restore community based news.
Donate

MORE NEWS