Quantcast

Chicago City Wire

Friday, May 23, 2025

Former state university employee Barclay paid in $14K to pension fund, could collect $640K in retirement

Money 08

Former state university employee Dorothy Barclay, who retired in January 2016, saved $13,941 toward a pension over 6 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Barclay would collect as much as $639,761, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Barclay received $13,447 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Barclay will have already received $27,297 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

MORE NEWS