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Chicago City Wire

Friday, April 19, 2024

Former state university employee Stoddard paid in $6K to pension fund, could collect $331K in retirement

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Former state university employee Carolyn Stoddard, who retired in December 2017, saved $5,896 toward a pension over 9 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Stoddard would collect as much as $330,553, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Stoddard received $6,948 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Stoddard will have already received $6,948 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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