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Chicago City Wire

Thursday, April 25, 2024

Former state university employee Lust paid in $63K to pension fund, could collect $1.41M in retirement

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Former state university employee Deborah Lust, who retired in January 2016, saved $62,857 toward a pension over 30 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Lust would collect as much as $1.41 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Lust received $29,621 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Lust will have already received $91,556 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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