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Chicago City Wire

Wednesday, April 24, 2024

Former state university employee Snulligan paid in $75K to pension fund, could collect $1.57M in retirement

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Former state university employee Edward Snulligan, who retired in January 2019, saved $74,849 toward a pension over 25 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Snulligan would collect as much as $1.57 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Snulligan received $33,024 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Snulligan will have already received $102,074 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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