Chicago City Wire

Chicago City Wire

Friday, April 3, 2020

Former state university employee Gardner paid in $73K to pension fund, could collect $1.69M in retirement


By Local Labs News Service | Feb 1, 2016

Shutterstock 113962678

Former state university employee Yolanda Gardner, who retired in January 2016, saved $73,350 toward a pension over 27 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Gardner would collect as much as $1.69 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Gardner received $35,500 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Gardner will have already received $109,727 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

Want to get notified whenever we write about City Colleges of Chicago ?

Sign-up Next time we write about City Colleges of Chicago, we'll email you a link to the story. You may edit your settings or unsubscribe at any time.

Organizations in this Story

City Colleges of Chicago

More News