Former state university employee Lonergan paid in $117K to pension fund, could collect $2.93M in retirement

By Local Labs News Service

Feb 1, 2016

Former state university employee Werlita Lonergan, who retired in January 2016, saved $117,237 toward a pension over 24 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Lonergan would collect as much as $2.93 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Lonergan received $61,539 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Lonergan will have already received $124,924 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 Chicago

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