Former state university employee Tavenner Skinn paid in $17K to pension fund, could collect $787K in retirement

By Local Labs News Service

Feb 1, 2018

Former state university employee Michele Tavenner Skinn, who retired in January 2018, saved $17,047 toward a pension over 5 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Tavenner Skinn would collect as much as $787,220, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Tavenner Skinn received $16,546 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Tavenner Skinn will have already received $33,588 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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