Quantcast

Chicago City Wire

Friday, April 19, 2024

Former state university employee Sjuts paid in $128K to pension fund, could collect $2.35M in retirement

Shutterstock 65427295

Former state university employee Susan Sjuts, who retired in March 2018, saved $128,181 toward a pension over 30 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Sjuts would collect as much as $2.35 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Sjuts received $49,317 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Sjuts will have already received $152,435 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

MORE NEWS