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Chicago City Wire

Tuesday, April 16, 2024

Former state university employee Gose paid in $25K to pension fund, could collect $811K in retirement

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Former state university employee Joyce Gose, who retired in May 2016, saved $25,480 toward a pension over 14 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Gose would collect as much as $811,187, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Gose received $17,050 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Gose will have already received $34,612 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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