Chicago City Wire

Chicago City Wire

Thursday, November 14, 2019

Former state university employee Cooper paid in $68K to pension fund, could collect $1.55M in retirement

Schools

By Local Labs News Service | Nov 1, 2017

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Former state university employee Terralisa Cooper, who retired in October 2017, saved $68,495 toward a pension over 30 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Cooper would collect as much as $1.55 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Cooper received $32,504 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Cooper will have already received $100,466 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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University of Illinois at Urbana Champaign

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