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Chicago City Wire

Monday, May 6, 2024

Former state university employee Hillery paid in $6K to pension fund, could collect $179K in retirement

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Former state university employee Marla Hillery, who retired in September 2016, saved $6,395 toward a pension over 11 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Hillery would collect as much as $179,212, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Hillery received $3,766 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Hillery will have already received $7,645 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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