Chicago City Wire

Chicago City Wire

Wednesday, January 29, 2020

Former state university employee Adams paid in $50K to pension fund, could collect $1.41M in retirement


By Local Labs News Service | Aug 1, 2017

Money 05

Former state university employee Laura Adams, who retired in July 2017, saved $49,920 toward a pension over 28 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Adams would collect as much as $1.41 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Adams received $29,642 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Adams will have already received $60,173 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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University of Illinois at Urbana Champaign

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