Former state university employee Jackson paid in $26K to pension fund, could collect $438K in retirement

By Local Labs News Service

Jul 1, 2016

Former state university employee Diana Jackson, who retired in June 2016, saved $25,967 toward a pension over 13 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Jackson would collect as much as $438,038, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Jackson received $9,207 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Jackson will have already received $28,457 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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City Colleges of Chicago

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