Former state university employee Williams paid in $200K to pension fund, could collect $4.67M in retirement

By Local Labs News Service

Feb 1, 2018

Former state university employee Jessica Williams, who retired in January 2018, saved $200,165 toward a pension over 31 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Williams would collect as much as $4.67 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Williams received $98,225 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Williams will have already received $303,604 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 Chicago

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