Chicago City Wire

Chicago City Wire

Saturday, October 19, 2019

Former state university employee Gulley paid in $80K to pension fund, could collect $1.76M in retirement


By Local Labs News Service | May 1, 2018

Former state university employee Helen Gulley, who retired in April 2018, saved $80,478 toward a pension over 30 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Gulley 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 Gulley received $36,969 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Gulley will have already received $114,267 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 University of Illinois at Chicago ?

Sign-up Next time we write about University of Illinois at Chicago, we'll email you a link to the story. You may edit your settings or unsubscribe at any time.

Organizations in this Story

University of Illinois at Chicago

More News