Quantcast

Chicago City Wire

Monday, July 7, 2025

Former state university employee Ingrassia paid in $3K to pension fund, could collect $64K in retirement

Money041

Former state university employee Theodore Ingrassia, who retired in May 2016, saved $3,207 toward a pension over 15 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Ingrassia would collect as much as $64,323, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Ingrassia received $1,352 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Ingrassia will have already received $4,180 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

MORE NEWS