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Chicago City Wire

Sunday, May 5, 2024

Former state university employee Fuller paid in $57K to pension fund, could collect $1.24M in retirement

Money 02

Former state university employee Linda Fuller, who retired in September 2017, saved $56,582 toward a pension over 29 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Fuller would collect as much as $1.24 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Fuller received $26,072 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Fuller will have already received $80,586 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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