Chicago City Wire

Chicago City Wire

Thursday, November 14, 2019

Former state university employee Andronis paid in $77K to pension fund, could collect $1.41M in retirement

Schools

By Local Labs News Service | Jul 1, 2017

Shutterstock 197358977

Former state university employee Christ Andronis, who retired in June 2017, saved $76,828 toward a pension over 23 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Andronis would collect as much as $1.41 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Andronis received $29,637 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Andronis will have already received $91,605 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

Want to get notified whenever we write about City Colleges of Chicago ?

Sign-up Next time we write about City Colleges of Chicago, we'll email you a link to the story. You may edit your settings or unsubscribe at any time.

Organizations in this Story

City Colleges of Chicago

More News