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


By Local Labs News Service | Feb 1, 2018

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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.

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