Chicago City Wire

Chicago City Wire

Tuesday, February 18, 2020

Former state university employee Valero Quiros paid in $44K to pension fund, could collect $421K in retirement

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By Local Labs News Service | Jun 21, 2019

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Former state university employee Maria Carmen Valero Quiros, who retired in April 2019, saved $43,914 toward a pension over 11 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Valero Quiros would collect as much as $420,756, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Valero Quiros received $8,844 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 5 years of retirement, Valero Quiros will have already received $46,951 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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