Chicago City Wire

Chicago City Wire

Tuesday, January 28, 2020

Former state university employee Curley paid in $62K to pension fund, could collect $1.5M in retirement


By Local Labs News Service | Feb 1, 2016

Shutterstock 434242897

Former state university employee Robert Curley, who retired in January 2016, saved $62,486 toward a pension over 26 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Curley would collect as much as $1.5 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Curley received $31,589 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Curley will have already received $64,126 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