Quantcast

Chicago City Wire

Friday, April 19, 2024

Former state university employee Radosh paid in $13K to pension fund, could collect $335K in retirement

Money272

Former state university employee Jeffrey Radosh, who retired in June 2016, saved $13,355 toward a pension over 9 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Radosh would collect as much as $334,704, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Radosh received $7,035 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Radosh will have already received $14,281 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

MORE NEWS