Chicago City Wire

Chicago City Wire

Friday, February 28, 2020

Former state university employee Capulong paid in $75K to pension fund, could collect $1.53M in retirement

Schools

By Local Labs News Service | Feb 1, 2018

Shutterstock 197358977

Former state university employee Rose Capulong, who retired in January 2018, saved $74,964 toward a pension over 24 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Capulong would collect as much as $1.53 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Capulong received $32,244 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Capulong will have already received $99,662 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 University of Illinois at Chicago ?

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

Organizations in this Story

University of Illinois at Chicago

More News