Chicago City Wire

Chicago City Wire

Thursday, October 17, 2019

Former state university employee Little paid in $73K to pension fund, could collect $2.09M in retirement

Schools

By Local Labs News Service | Feb 1, 2018


Former state university employee Phyllis Little, who retired in January 2018, saved $73,437 toward a pension over 33 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Little would collect as much as $2.09 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Little received $43,876 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Little will have already received $89,068 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 Urbana Champaign

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