Former state university employee West paid in $24K to pension fund, could collect $1.14M in retirement

By Local Labs News Service

Dec 1, 2017

Former state university employee Julie West, who retired in November 2017, saved $24,308 toward a pension over 9 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, West would collect as much as $1.14 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes West received $23,988 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, West will have already received $48,696 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

ORGANIZATIONS IN THIS STORY

University of Illinois at Urbana Champaign

!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