Chicago City Wire

Chicago City Wire

Wednesday, April 1, 2020

Former state university employee Healy paid in $28K to pension fund, could collect $1.52M in retirement

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By Local Labs News Service | Feb 1, 2016

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Former state university employee Kristine Healy, who retired in January 2016, saved $28,474 toward a pension over 8 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Healy 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 Healy received $31,993 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Healy will have already received $31,993 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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