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Chicago City Wire

Tuesday, November 26, 2024

Former state university employee Sala paid in $22K to pension fund, could collect $1.34M in retirement

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Former state university employee David Sala, who retired in February 2017, saved $21,501 toward a pension over 11 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Sala would collect as much as $1.34 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Sala received $28,218 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Sala will have already received $28,218 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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