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Chicago City Wire

Wednesday, May 8, 2024

Former state university employee Roberts paid in $62K to pension fund, could collect $2.28M in retirement

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Former state university employee Sheila Roberts, who retired in July 2018, saved $61,696 toward a pension over 24 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Roberts would collect as much as $2.28 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Roberts received $47,892 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Roberts will have already received $97,221 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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