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

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By Local Labs News Service | Feb 1, 2016

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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.

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