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Chicago City Wire

Sunday, September 29, 2024

Former state university employee Abramson paid in $23K to pension fund, could collect $1.86M in retirement

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Former state university employee Edith Abramson, who retired in December 2016, saved $23,198 toward a pension over 6 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Abramson would collect as much as $1.86 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Abramson received $39,065 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Abramson will have already received $39,065 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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