Chicago City Wire

Chicago City Wire

Wednesday, November 13, 2019

Former state university employee Koger paid in $3K to pension fund, could collect $146K in retirement

Schools

By Local Labs News Service | May 1, 2018

Shutterstock 197358977

Former state university employee Donald Koger, who retired in April 2018, saved $2,936 toward a pension over 5 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Koger would collect as much as $146,499, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Koger received $3,079 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Koger will have already received $3,079 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