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Chicago City Wire

Monday, May 6, 2024

Former state university employee Yasutake paid in $158K to pension fund, could collect $3.14M in retirement

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Former state university employee David Yasutake, who retired in September 2017, saved $158,454 toward a pension over 25 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Yasutake would collect as much as $3.14 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Yasutake received $65,995 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Yasutake will have already received $203,984 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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