Former state university employee Klich paid in $23K to pension fund, could collect $1.4M in retirement

By Local Labs News Service

Sep 1, 2016

Former state university employee Janet Klich, who retired in August 2016, saved $22,962 toward a pension over 10 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Klich would collect as much as $1.4 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Klich received $29,407 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Klich will have already received $29,407 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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