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Chicago City Wire

Monday, May 6, 2024

Former state university employee Trevino paid in $55K to pension fund, could collect $1.28M in retirement

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Former state university employee Mary Trevino, who retired in October 2016, saved $55,126 toward a pension over 25 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Trevino would collect as much as $1.28 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Trevino received $26,952 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Trevino will have already received $83,307 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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