Chicago City Wire

Chicago City Wire

Wednesday, January 22, 2020

Former state university employee Touris paid in $6K to pension fund, could collect $258K in retirement


By Local Labs News Service | May 1, 2018

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Former state university employee Margot Touris, who retired in April 2018, saved $6,036 toward a pension over 10 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Touris would collect as much as $258,477, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Touris received $5,433 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Touris will have already received $11,029 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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