Chicago City Wire

Chicago City Wire

Tuesday, February 25, 2020

Former state university employee Clark paid in $70K to pension fund, could collect $1.76M in retirement

Schools

By Local Labs News Service | Feb 1, 2018

Shutterstock 443523112

Former state university employee Alisa Clark, who retired in January 2018, saved $70,499 toward a pension over 27 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Clark would collect as much as $1.76 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Clark received $36,900 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Clark will have already received $74,907 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