Former state university employee Gill paid in $12K to pension fund, could collect $357K in retirement

By Local Labs News Service

Feb 1, 2016

Former state university employee Gail Gill, who retired in January 2016, saved $12,094 toward a pension over 21 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Gill would collect as much as $356,690, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Gill received $7,497 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Gill will have already received $15,219 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

ORGANIZATIONS IN THIS STORY

City Colleges of Chicago

!RECEIVE ALERTS

The next time we write about any of these orgs, we’ll email you a link to the story. You may edit your settings or unsubscribe at any time.

Sign-up

DONATE

Help support the Metric Media Foundation's mission to restore community based news.

Donate