Former state university employee Gordon paid in $189K to pension fund, could collect $3.49M in retirement

By Local Labs News Service

Jun 1, 2016

Former state university employee Rebecca Gordon, who retired in May 2016, saved $189,142 toward a pension over 33 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Gordon would collect as much as $3.49 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Gordon received $73,260 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Gordon will have already received $226,440 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

ORGANIZATIONS IN THIS STORY

University of Illinois at Chicago

!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