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Chicago City Wire

Wednesday, May 1, 2024

Former state university employee Sinha paid in $150K to pension fund, could collect $2.82M in retirement

Money 06

Former state university employee Amita Sinha, who retired in September 2018, saved $150,233 toward a pension over 30 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Sinha would collect as much as $2.82 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Sinha received $59,316 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Sinha will have already received $183,339 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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