Quantcast

Chicago City Wire

Friday, April 19, 2024

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

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.

MORE NEWS