Chicago City Wire

Chicago City Wire

Saturday, November 16, 2019

Former state university employee Daily paid in $96K to pension fund, could collect $1.82M in retirement

Schools

By Local Labs News Service | Feb 1, 2019

Money 02

Former state university employee Janilyn Daily, who retired in January 2019, saved $95,774 toward a pension over 30 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Daily would collect as much as $1.82 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Daily received $38,160 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Daily will have already received $117,949 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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University of Illinois at Urbana Champaign

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