Chicago City Wire

Chicago City Wire

Monday, November 18, 2019

Former state university employee Vanpuyenbroeck paid in $76K to pension fund, could collect $1.46M in retirement


By Local Labs News Service | Jan 1, 2019

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Former state university employee Linda Vanpuyenbroeck, who retired in December 2018, saved $75,791 toward a pension over 25 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Vanpuyenbroeck would collect as much as $1.46 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Vanpuyenbroeck received $30,708 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Vanpuyenbroeck will have already received $94,915 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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