Quantcast

Chicago City Wire

Wednesday, June 4, 2025

Former state university employee Garcia paid in $6K to pension fund, could collect $514K in retirement

Shutterstock 443523112

Former state university employee Alma Garcia, who retired in November 2018, saved $5,660 toward a pension over 6 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Garcia would collect as much as $513,888, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Garcia received $10,801 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Garcia will have already received $10,801 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

MORE NEWS